Consumer credit confidence rises

British consumer credit confidence rose during the second quarter of the year, according to the latest research from CreditExpert, the online credit monitoring service from Experian.

The index of consumer confidence is based on whether members of the public are comfortable with their level of debt and whether they intend to borrow more money in the near future.

And it would seem that in the second quarter Britons were more comfortable with their debt as consumer confidence rose six points to 106. In the Midlands and Wales, confidence was as high as 120 points.

“Given the current background of interest rate rise discussions, the Index will continue to play an increasingly central role in measuring consumers’ attitudes to their financial circumstances,” said Jim Hodgkins, managing director of CreditExpert.

“It’s important that we make sure we’re constantly aware of our financial situation, ensuring we check our credit report to make sure there are no changes that could affect our ability to borrow in the future.”

The research showed that 76 per cent of people were comfortable with their level of debt and 30 per cent of borrowers were expecting their level of debt to fall over the next six months.