Commenting on data from the Lloyds Bank lending report, highlighting Brits’ confidence in paying back debt, David Mann, Head of Money at https://www.uswitch.com/banking/>**Uswitch.com****, says:** “While borrowing grew by record amounts in March, people shouldn’t bite off more than they can chew. Low interest rates won’t last forever – consumer confidence to pay back debts needs to be combined with a realistic and actionable plan to manage repayments.
“It’s important to keep an eye on your rate and the best deals, to make sure you’re not paying over the odds. If you’ve got a great rate, a word of warning – introductory deals won’t last forever, so make sure you either have slack in your monthly budget to cover an increase or even better, plan to switch or move your debt so you don’t get caught out.”
FOR MORE INFORMATION
Katherine Moss
Phone: 020 3021 5893
Email: katherine.moss@uswitch.com
Twitter: @uswitchPR
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