A new research report from Equiniti Credit Services, the UK’s leading consumer credit technology and outsourced service provider, depicts a rising market for credit in the UK, with consumer motivations for borrowing split between funding aspirational items such as holidays and household goods (47%), and managing or consolidating existing debt (53%).
The report has also identified a stark age group difference in attitudes to technology with 73% of millennials and generation-x happy to research a loan on their smartphone, compared with just 9% of baby boomers.