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[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 Guarantormyloan £3500

[Infographic] What Do We Spend Personal Loans On?

shared by deepamstry on Jan 26
What do we spend our personal loans on in the UK? We've conducted research to see what people fund with their loan application along with average amounts borrowed and terms. The personal loan market ...



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