[Infographic] What Do We Spend Personal Loans On?

WHAT DO WE SPEND PERSONAL LOANS ON? Loans are a great way of funding a large purchase and people take out a loan for many different reasons – from buying a used car to making home improvements Personal Loans in the UK Average consumer credit borrowed in October 2014 What is the typical loan term? 20% 3 y 3 years 15% £3326 2 years 5% >1 year per household 60% 5 years Second Hand Car Average cost of a 5 door used family car £4000 New Kitchen Refurbishing with a mid-range kitchen including appliances Bathroom Renovation A brand new bathroom costs on average 3 4 New Boiler Installation £4792 Boiler broken? The average cost of a boiler plus installation Overseas Holiday £2100 The average cost of an all-inclusive international holiday for a family of four How Do We Get Our Loans In The Uk? Unsecured lending in the UK - 2014 £9.2bn 78% High Street Bank Loan £7.2bn 2% 10% Guarantor Loans Peer to Peer £0.2bn £1bn Other £1bn 10% Sources http://www.tradeadvisor.com/a/cost-guides/new-kitchen-cost-guide http://www.autotrader.co.uk http://www.homebuilding.co.uk/advice/costs/how-much-project-cost-three http://www.tradeadvisor.com/a/cost-guides/boiler-cost-guide http://www.confused.com/travel-insurance/articles/britons-holiday-spending-revealed http://www.ibtimes.co.uk/why-uk-peer-peer-loan-market-has-doubled-size-just-six-months-1465184 http://www.bankofengland.co.uk/publications/Documents/other/monetary/trendsjanuary14.pdf http://www.guarantormyloan.co.uk Guarantormyloan guarantormyloan.co.uk £3500