Banks see lack of demand, while property transactions rise

Demand for loans from both individuals and businesses has continued to be subdued, despite the fact that the latest figures from HMRC have shown the number of property transactions in July was the highest so far this year. Outstanding debt New figures from the British Banking Association (BBA) show that the amount of money outstanding on personal loans and overdrafts currently stands at £52 billion, the lowest level for 10 years. Even though the number of mortgage approvals rose slightly in July these figures seem to indicate that consumers are still nervous about the economy and are trying, where possible, to reduce their ...