Borrowing "relatively subdued" says BBA by Finance News Bulletin

Published: 07/12/06

The British Banking Association (BBA) has supposed that "relatively subdued" customer spending should not be interpreted as a warning that the UK is slipping into a downturnThe comments came as the BBA issued its newest borrowing figures, showing that the amount borrowed on homeowner loans, unsecured praise and overdrafts rose by £505 million in February, compared to £604 million in the same month last yearThe amount borrowed on credit cards greater than before by £183 million over the month, compared to a £113 million increase in JanuaryThe BBA supposed that these figures remain broadly inline with the standard over the last six months of £173 million

"There carry on to be signs of consumer caution, as unsecured credit demand remained relatively subdued and put growth was above average," said David Dooks of the BBA"now as we did not look upon the above-trend rises in the major banks' net mortgage lfinishing towards the finish of 2005 as heralding a sustained upturn in mortgage market action, we do not now see the moderately weaker figures since as signalling a downturn, particularly with information of house prices picking up in 2006 so distant"MoneyExpert Limited is authorised and regulated by the Financial Services Authority (FSA register No 301654)

The Financial military Authority does not regulate some forms of mortgage

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