Consumer Credit in the United Kingdom decreased to 1119 GBP Million in October from 1398 GBP Million in September of 2025. This dataset provides the latest reported value for - United Kingdom Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of late October 2024, most of the outstanding consumer lending in the United Kingdom (UK) were overdrafts, as well as loans and advances other than credit cards. Consumer credit peaked in February 2020, but dropped sharply two months later before slowly starting to recover again. The category other, which includes overdrafts and other loans and advances made up most of the outstanding credit. Meanwhile, credit cards amounted to approximately a third of the outstanding consumer loans. Nevertheless, credit cards made up most of the new monthly consumer lending in the UK. A likely reason for this discrepancy is that credit card debt tends to be paid in a shorter term than other types of credit.

Consumer lending, excluding student loans, in the United Kingdom (UK) reached nearly 33.51 billion British pounds in March 2025. These figures have thus recovered from the stark decline suffered in April 2020. The value of new consumer credit granted also decreased during the economic crisis of 2007, although more gradually. The category consumer lending includes loans and advances to individuals through credit cards and personal loans. The majority of consumer credit is through credit card lending. Mortgage lending The value of outstanding mortgage lending in the UK is far higher than that of consumer credit. Additionally, the outstanding volume of consumer credit has fluctuated more in the past, while mortgages have had a more consistent growth. In the second quarter of 2024, the value of gross new mortgage lending in the UK amounted to over 60 billion British pounds. Credit card payments With billions of British pounds in gross consumer lending through credit cards, it’s unsurprising that the number of credit cards in circulation in 2022 was nearly as high as the number of people in the UK. The number of credit cards peaked in 2005, and it slightly decreased in the following months. However, there were still nearly 56 million credit cards in issue in the UK in 2023. The average amount spent per purchase on credit cards in the UK was roughly 59 British pounds in November 2024. This figure is much lower than the spending limit of most credit cards.

This report analyses the total unsecured gross lending to individuals within the United Kingdom; this includes lending by monetary financial institutions (MFIs) and other consumer credit lenders, albeit excludes lending for the purposes of student loans. The data is sourced from the Bank of England (BoE) and values presented represent the sum of seasonally adjusted monthly figures over a given financial year (i.e., April-March). Forecast estimates are produced by IBISWorld.

The outstanding consumer credit excluding student loans in the United Kingdom has increased during the past months, reaching nearly 239.1 billion British pounds in June 2025. The value of outstanding consumer loans fell significantly in 2020 and 2021, but it recovered after that.

In June 2025, most consumer loans in the United Kingdom (UK) were granted by monetary financial institutions (MFI). Nevertheless, other lenders gave over 12.7 billion British pounds worth of consumer credit. During the past years, non-bank lenders have been increasing their market share. Credit cards made up most of the new monthly consumer lending in the UK.

The 'BoE Consumer Credit' report in the UK measures the change in the total value of new credit issued to consumers, including credit card debt and personal loans.-2026-01-05

The 'BoE Consumer Credit' report in the UK measures the change in the total value of new credit issued to consumers, including credit card debt and personal loans.-2025-05-01

The monthly credit grantors survey was set up to provide data to the Bank of England in July 1978 following a benchmark survey in 1976.

The UK consumer credit market experienced challenging conditions in 2019. Lending in 2020 is set to rise by 5%, but overall growth will remain flat at around 4-5% throughout the rest of the forecast period. This means gross advances are expected to total £372.4bn by 2023. The following factors will drive the market over the next few years: Read More

Consumer credit, billion currency units in the United Kingdom, June, 2025 The most recent value is 154.55 billion U.K. Pound Sterling as of June 2025, an increase compared to the previous value of 153.21 billion U.K. Pound Sterling. Historically, the average for the United Kingdom from August 2010 to June 2025 is 153.34 billion U.K. Pound Sterling. The minimum of 141.64 billion U.K. Pound Sterling was recorded in January 2022, while the maximum of 181.58 billion U.K. Pound Sterling was reached in August 2010. | TheGlobalEconomy.com

Overview with Chart & Report: Bank of England Consumer Credit m/m reflects monthly changes in the volume of unpaid sterling credit to UK-resident individuals. Loans issued to students are excluded from the indicator calculation

United Kingdom Consumer Credit: MFIs: Credit Card Repayments data was reported at 12,559.000 GBP mn in Sep 2018. This records a decrease from the previous number of 13,577.000 GBP mn for Aug 2018. United Kingdom Consumer Credit: MFIs: Credit Card Repayments data is updated monthly, averaging 11,162.000 GBP mn from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 14,325.000 GBP mn in Jul 2018 and a record low of 8,701.000 GBP mn in Feb 2013. United Kingdom Consumer Credit: MFIs: Credit Card Repayments data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB032: Lending to Individuals: Gross: Consumer Credits.

The interest rates of most types of personal loans in the United Kingdom (UK) have increased slightly in 2024. However, the interest rates applied to personal loans of 3,000 British pounds were slightly lower than in the previous year, amounting to ***** percent. Smaller personal loans had, in general, higher interest rates than bigger loans.

Over the five years through 2025-26, Credit Bureaux and Rating Agencies’ revenue growth is slated to grow at a compound annual rate of 0.9% to £3 billion. The industry has had to navigate a changing environment with the Bank of England raising interest rates over the two years through 2023-24, a sharp contrast to the ultra-low levels seen over the decade previously. The past five years have been turbulent, with weak economic conditions impeding revenue. Low confidence and the high interest rate environment have meant there’s been less borrowing across the economy over the past few years, resulting in a drop in demand for the services credit rating agencies provide. M&A activity has also left much to be desired, with the divergence between buying and selling prices denting exit volumes in 2023-24. Despite conditions remaining bleak as inflation proves sticky and rates come down slower than expected, lending activity is positioned for a modest recovery over the two years through 2025-26. Increasingly favourable economic conditions, interest rate cuts and an upturn in deal-making are expected to stimulate borrowing. This will feed through to higher demand for credit rating services, as lenders require credit checks prior to approving loans, contributing revenue growth of 4.6% in 2025-26. Over the five years through 2030-31, revenue is forecast to expand at a compound annual rate of 3.8% to reach £3.7 billion. Mounting demand for ESG rating services, which have been brought in by a number of major rating agencies, will be a key driver of this growth. Larger players like Moody’s and Fitch will continue to leverage their extensive data and model credit risk more accurately. Credit rating agencies will also navigate an evolving regulatory environment, most notably the introduction of the Basel III reforms in January 2027, reducing the risk margin and aiding lending activity.

Daily, weekly and monthly data showing seasonally adjusted and non-seasonally adjusted UK spending using debit and credit cards. These are official statistics in development. Source: CHAPS, Bank of England.

United Kingdom M4 Lending: SL: Changes: sa: Individuals: Consumer Credit data was reported at 436.000 GBP mn in Sep 2018. This records an increase from the previous number of 355.000 GBP mn for Aug 2018. United Kingdom M4 Lending: SL: Changes: sa: Individuals: Consumer Credit data is updated monthly, averaging 653.000 GBP mn from Apr 1993 (Median) to Sep 2018, with 306 observations. The data reached an all-time high of 2,018.000 GBP mn in Oct 2002 and a record low of -781.000 GBP mn in Feb 2009. United Kingdom M4 Lending: SL: Changes: sa: Individuals: Consumer Credit data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB028: M4 Lending: Excluding Securitisations and Loan Transfers: Seasonally Adjusted.

The great majority of lending among the global assets of NatWest Group in 2023 were mortgages in the United Kingdom (UK). Additionally, the value of wholesale lending in the UK amounted to 138 billion British pounds. The activities of NatWest, which has its headquarters in London, take place primarily in the UK. Most of the loans granted by NatWest were to customers rather than to other banks.

United Kingdom M4 Lending: SL: sa: Individuals: Consumer Credit data was reported at 134,742.000 GBP mn in Oct 2018. This records a decrease from the previous number of 134,757.000 GBP mn for Sep 2018. United Kingdom M4 Lending: SL: sa: Individuals: Consumer Credit data is updated monthly, averaging 118,366.500 GBP mn from Mar 1993 (Median) to Oct 2018, with 308 observations. The data reached an all-time high of 156,762.000 GBP mn in May 2008 and a record low of 42,029.000 GBP mn in Apr 1993. United Kingdom M4 Lending: SL: sa: Individuals: Consumer Credit data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB028: M4 Lending: Excluding Securitisations and Loan Transfers: Seasonally Adjusted.

This statistic shows the amount owed to banks in consumer credit lending in the United Kingdom (UK) as of the end of March 2017. In total ** billion British pounds are owed to either bank or non-bank institutions for dealership car financing. In total ** billion is owed in credit card lending and ** billion British pounds in personal loans, overdrafts and other lending.