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|Jeff Poole, Freedom Consumer Finance comments on today's BBA High Street Banking statistics|
|Tuesday, 27 September 2016|
Jeff Poole, Managing Director of Freedom Consumer Finance, comments on the BBA High Street Banking statistics released today: “August’s figures from the BBA show that year-on-year borrowing patterns have not been affected by the UK’s decision to leave the EU. Whilst it is still too early to see if there will be any long-term effects of the vote for Brexit, this data sends a positive message for those hoping to access credit.
“Transparent, responsible advice and affordable loan products will be vital for bridging the gap between borrowers and suitable lending options, however, there are many people who fall outside the strict criteria checks used by some high street lenders. It is essential therefore that these customers are made aware of what options are available to them, according to their individual financial circumstances. There is no reason why customers who may have struggled to obtain credit previously, such as the self-employed or borrowers with an adverse credit history, should not be able to qualify for a loan in today’s marketplace.”
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