The quantity of unsecured credits that were taken by consumers jumped to £732 million this May. According to the Bank of England statistics it was caused by a severe rise in personal loans and overdraughts.
The number of unsecured borrowings almost twice increased in comparison with the £379 million indicator in April. The growth was caused by the loans increase and overdrafts by £603m within a month. At the same time the index of credit card borrowings was just £70m. The increase in unsecured borrowing produced the notice that these loans might be used to cover everyday money expenses.