Demand for consumer credit products such as personal loans has returned to pre-pandemic levels, with more than £1.8bn borrowed during June 2022.
This represents a 6.5 per cent increase in consumer borrowing month-on-month, and the highest rate since May 2019.
According to the latest Bank of England money and credit statistics, £1bn was charged to credit cards in June, while £800m was borrowed through other forms of consumer credit such as car dealership finance and personal loans.
Distribution Finance Capital Holdings plc (LON:DFCH) is UK specialist commercial lending and personal savings bank. From straightforward savings to practical finance solutions, our aim is to help customers manage and grow their business or savings. Founded as a specialist commercial lender in 2016, DF Capital was authorised as a bank in September 2020.