Halifax reveals consumers` loan habits
2 June 2009
The latest annual Unsecured Personal Loans review from Halifax has given an insight into the way borrowers have been using their personal loans over the past year.
Halifax claimed that over half (54%) of loan applicants in 2008 took out an unsecured loan to consolidate their existing debts. Meanwhile, around one in seven (15%) took out a loan for home improvements, while just under a quarter (23%) were borrowing for a car purchase.
Russell Galley, Director of Loans at Halifax, said: "Our research shows that loans are taken out for a wide variety of reasons.
"Similar to the last annual review, there is a continued trend in the number of people who are looking to invest in themselves and their future by undertaking further training."
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Tags: loans, halifax, loan, unsecured, car, home improvements, Unsecured Personal Loans review, Unsecured Personal Loans, review, reviews, halifax loans, consolidation, consolidate, debt, debts, loan for home improvements
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