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Secured lending 'rose during March'
Levels of secured lending rose by £0.3 billion during March, according to new figures from Credit Action.
The organisation revealed that total lending over the month hit £0.6 billion, while the total amount secured on dwellings stood at £1.2 billion.
Average household debt, excluding mortgages, in the UK reached £8,796, although the figure rises to £18,324 if the figure is based on the number of households with unsecured loans.
In addition, average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans had risen to £4,593 per UK adult by the end of the month.
Recent figures published by the British Bankers' Association revealed that the number of personal loans taken out by consumers in the UK fell during March.
The study also revealed that the number of credit card transactions in the month was 1.3 per cent higher than in February.