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Consumer Attitudes towards Debt - UK - July 2017

Consumer Attitudes towards Debt - UK - July 2017

“Cheap loans and attractive credit card deals have fuelled a boom in unsecured lending since the recession. However, the economic fallout from Brexit means consumers are already feeling the squeeze of a combination of rising prices and slow wage growth. As a result, more consumers are likely to turn to revolving credit for day-to-day spending. However, consumers will also take a more cautious approach to their finances, becoming more reluctant to commit to structured lending products, making it more difficult to sell personal loans.”

– Rich Shepherd, Senior Financial Services Analyst

This report will cover the following areas:

Surge in micro-debts points to the first signs of difficulty
On balance, Brexit is expected to cause problems for borrowers
Will Open Banking make it easier for challengers to compete?

TOC available on request

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