Consumer lending continues to be on the rise, giving all encouraging views of the UK economy. It took quite a hit due to COVID-19, and is making a comeback. Virgin Money, a British bank, has issued a forecast that is encouraging. Such information is based on the restrictions relating to COVID-19 being modified and less strict.
This forecast was released at the end of July regarding consumer lending, mainly for homes. Virgin Money anticipates the 3rd quarter for 2021 will offer significant improvements compared to a year ago. However, they plan to offer funding for much more than just homes. They realise consumers have a wide range of needs at this time due to both COVID-19 and other factors.
Virgin Money has 19 million pounds available for lending at this time. Such funds can be used to help people rebound from the health issues relating to COVID-19. As the economic status continues to improve, they will also lower the remaining $678 provisions already out there. They unders...