#consumer-credit

#consumer-credit

At the heart of the dispute is a complaint made to the Financial Ombudsman Service (FOS) by a customer who purchased a second-hand Audi through Arnold Clark. The customer claimed they were not informed that their loan agreement with Clydesdale Financial Services, a subsidiary of Barclays, included a commission payment.

The current surge in personal loans highlights increasing consumer confidence, with more than €13 billion in outstanding credit, the highest since February 2020.

Given the risk of overheating appears to be next-to-zero in the UK, lower rates could in fact help to stimulate demand and spur growth in the economy.