BOE Credit Conditions Survey for Q4 2017

The Bank of England (BOE) released its quarterly Credit Conditions Survey for Q4 2017 on Thursday, highlighting the following:

Household demand for secured lending for remortgaging increased significantly in Q4 2017.

Availability of unsecured credit to households decreased again in Q4 2017 Lenders expect a significant decrease in Q1 2018.

Overall unsecured lending spreads tightened in Q4, and expected to be unchanged in Q1 2018.

Default rates and losses given default on secured loans to households fell significantly in Q4, expected to fall further in Q1 2018.

The 2017 Q4 survey was conducted between 20 November 2017 and 8 December 2017.