Economic Buzz: UK Lenders To Reduce Secured Lending In Q2, Says BoE Survey

14 Apr 2022 , 05:52 PM

The UK lenders intended to reduce providing secured credit to households in the three months to May, despite an expected increase in demand for mortgage lending, the survey results from the Bank of England showed on Thursday. According to Credit Conditions Survey, lenders maintained the availability of secured credit to households in three months to February. However, they plan to reduce the secured credit in the second quarter. The supply of unsecured credit to households increased in the first quarter and was expected to rise further in the quarter ahead. The survey showed that the supply of credit to the corporate sector was unchanged in the first quarter and banks plan to retain its flow in the second quarter.

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