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BoE: Demand For Secured Lending Rises In Q2

Demand for secured lending for house purchases rose significantly in the second quarter, signaling an improvement in the housing market, a closely-watched survey showed Thursday.

According to the credit conditions survey, published by the Bank of England, British lenders expect demand for secured lending to remain unchanged in the third quarter.

Nonetheless, the survey showed a decrease in demand for unsecured lending due to a fall in credit card lending in the second quarter. Lenders expect an increase in demand for credit card lending in the third quarter, but a decrease in demand for other unsecured lending.

Further, a decrease in demand for corporate lending from small businesses was reported and a slight decrease in demand from large private non-financial corporations and no change in demand from medium sized PNFCs were registered.

The availability of secured and unsecured credit to households decreased slightly in the second quarter. At the same time, availability of credit to the corporate sector remained unchanged.

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