Finance news from Loans Park

London (loans-park) June 30, 2006: The requirement for unsecured loans have increased consecutively for the second month in May and also surpassed the six month average. Howard Archer, chief UK and European economist for Global Insight, says that the figures suggest that consumers have livened up after a slow start in 2006, in part due to the World Cup. He also warned and went on to say that "Nevertheless, consumer credit is still relatively limited by recent past norms."

He further added: "Record high debt levels, rising unemployment and increasing pension concerns means that there is an increased need for many consumers to try and improve their balance sheets. This need would be heightened if the Bank of England raises interest rates any time soon."