Record personal borrowing may reflect both improving consumer confidence and ongoing cost-of-living pressures.
That’s according to the Banking and Payments Federation, who’s latest report shows 780 million euro in loans were drawn down between July and September last year.
While some borrowing is linked to spending on cars and home improvements, loans are also being used to cover major household costs including education and holidays.
Anthony O’Brien, Head of research at the BPFI explains what’s driving borrowing.
