EUROPE: MARCH 2008 - The rate of growth in unsecured lending slows whilst pawnbroking grows.
By June 2007 the total indebtedness of the UK had reached over £1.3 trillion which compares to UK wealth which, including property, is estimated by PwC to exceed £6 trillion. The Bank of England noted in its 2007 Inflation Reports that the ratio of household debt to annual income has risen by around a half since the start of the decade to 160% in the first quarter of 2007.
Secured lending (primarily mortgage lending) had a growth rate of 11.3% during the year to June 2007 whilst growth in unsecured lending fell to 1.1%. Secured debt accounted for around 84% of total outstanding debt.
PwC believe that the recent significant....more
Tuesday 25 March 2008
EUROPEAN CONSUMER BORROWING MARKET
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