Borrowers in the UK are becoming more savvy about debt management and finding better loan solutions according to a new report.
Information released by the British Bankers Association (BBA) said that unsecured borrowing is on the decrease, with repayments on such lending on the up. £190 million was repaid in February and a further £400 million was repaid in March this year.
Now that unsecured loan providers can force the sale of property to regain lending capital, borrowers are finding secured loans the better option with lower interest rates.