/24-7PressRelease/ - LONDON, UK, May 06, 2007 - The British Bankers' Association (BBA) has come with the fact that rising house price has an effect on personal loans. It is observed that borrowing of personal loan is on decline.
It has also been found that taking secured loans have dropped which is the case with the number of approved home loans too. While explaining the causes of lower borrowing figures, David Dooks, one of the directors of the BBA, held the continually rising interest rates and the increase in house prices responsible.
As has been informed by him to the Independent that unsecured lending had slowed during March, with borrowing on credit cards, personal loans and overdrafts all down sharply in compared to figures taken at the same time the previous year.
However, financial analysts are still fairly confident that the Bank of England's monetary policy committee will be forced to raise the base rate of interest by another quarter point next week, making the interest rate 5.5%, despite the news that the number of borrowers is falling.
For additional information on the news that is the subject of this press release or (for a copy, demo, or sample) contact webmaster or visit http://www.sunsetloans.co.uk
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