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UK lenders expect demand for mortgages to fall, consumer credit to rise -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. People walk along a street in front of Bank of England’s (BoE), building. This was after the BoE became a major central bank of the world to increase rates following the COVID-19 pandemic. London, England, 16 December 2021. REUTERS/Toby Mel

LONDON, (Reuters) – British lenders anticipate that demand for mortgage loans will drop in the first three-months of 2022 following a decline in late 2021. This was according to the Bank of England on Thursday.

The BoE’s Quarterly Credit Conditions Survey found that lenders anticipated that demand for unsecured credit, led by credit card, would continue to increase in the period January-March.

In the early 2022, default rates on consumer and mortgage loans would rise.

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