2021.04.1510:34:00UTC+00BoE: Demand For Secured Lending To Rise In Q2

British lenders expect demand for secured lending as well as the availability of secured credit to households to increase in the next three months to end-May, the Credit Conditions Survey results from the Bank of England showed on Thursday.

The availability of secured credit to households increased in three months to end-February, while demand for secured lending for both house purchase and remortgaging decreased in the first quarter.

Lenders reported that the availability of unsecured credit to households decreased slightly in the first quarter, but was expected to increase over the next quarter. At the same time, demand for unsecured lending was unchanged in the first quarter, but was expected to increase in the second quarter.

Banks said the overall availability of credit to the corporate sector was unchanged in the first quarter, while overall availability was expected to increase slightly in the coming three months.

Lenders revealed a fall in demand for corporate lending from small businesses in the first quarter, whereas demand from large businesses increased.

Demand from medium-sized businesses was unchanged over the same period. Demand for corporate lending was expected to increase across all business sizes in the second quarter.

The survey was conducted between March 1 and 19.