UK debt needs provider double-act, says Datamonitor

Both parties are currently focusing on their own problems and issues surrounding debt and the savings gap, says Datamonnitor. However, ithe consultancy firm warns in its report on consumer debt "it is time for joined thinking", because unless positive changes occur there may be "catastrophic consequences" for both consumers and providers. Unsecured UK consumer debt amounted to £207bn last year, while secured lending in the form of mortgages and remortgages rose to £271bn. Although debt is currently affordable because of low interest rates, any future rate rises could see many peopl...