"Increased competition and the emergence of challenger banks has meant that lenders are now able to offer more attractive options for borrowers."
April saw over £17.9 million worth of loans completed through the Freedom Finance ‘soft search’ loan system, beating the previous record of £16.6 million in March.
Brian Brodie, CEO of Freedom Finance, commented: “Our record-breaking figures show that increased competition and the emergence of challenger banks has meant that lenders are now able to offer more attractive options for borrowers. The exceptional value that this competition creates in the personal loan market is leading to a significant uplift in consumer appetite for loan products. With the unsecured loan space seeing a particular rise, it is clear that the availability of credit is allowing consumer confidence to grow from strength to strength."
