(1888PressRelease)
March 31, 2007 - Market for personal loans fell by £0.2 billion in February, down from the £0.3 billion as recorded in January. The experts say that there was little demand for personal loans the following month, and this led to a decline in the February figures.
The consumer credit figures released by the Major British Banking Groups revealed that £183 million decrease in February out of £187 million constituted personal loans and overdrafts.
David Dooks, BBA director of statistics, said: "Consumer appetite for credit remains very subdued. There was little personal loan demand."
Interestingly, this January had witnessed a rise of £189 million on personal loans, reflecting an immediate fiscal strain on the consumers in the backdrop of Christmas and New Year eve.
With demand for personal loans taking a dip, you can expect a lot of good offers in the UK financial market. A research says that only one in three consumers shop around before taking out a loan. It means that only one-fourth of the consumers make any effort to get cheap loans. If you want cheap loans, you should compare loans and come out with a suitable loan plan in hand.
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