The average loan size for this type of product was £25,366 and 24% of applications were for home improvements, with householders looking to spend an average of £14,303 on improving their property.
The other reasons people applied for a loan were as follows:
- Business - 13% - average loan size: £51,534
- Car - 3% - average loan size: £9,250
- Others - 8% (includes Wedding, Holiday, Boat loans, and Remortgages) - average loan size: £5,100
76% of applicants were employed and 14% self-employed. The remaining 10% were a mix of retired, disabled and housewife/househusband.
The overall average loan size required was £25,321.
