Loans: demand also growing in March

Rising loans in 2015 . The credit sector regains dynamism and returns to grind, with positive effects and repercussions on the entire economy. After months of regressions and sector reports accompanied by the ‘minus’ sign, the sector is growing again, driven also by the new digital media which, in recent years, have achieved an increasingly profitable synergy with the universe of financing. Online institutions have extended the alternatives and portals for comparing loans such as Yes Borrow allow families to investigate the market with greater awareness.

 

Loans: Loan market highlights

Loan market highlights

The latest Lite Lending Barometer relating to the trend in the loan market highlights how the crisis, although it cannot be defined behind it, is at least starting to make the banks and credit institutions less afraid. The good news comes from the demand expressed by households for finalized loans and for personal loans which, overall, in March showed a growth of 6.9% on an annual basis. In the first quarter of the year, the increase in requests is even more significant and stands at + 7.8% . Between January and March 2015, the average amount requested was $ 7,724 .

In the first three months of 2015, the applications for finalized loans show at + 8.9% , for an average amount of 5,044 dollars ; those for personal loans is + 6.6% compared to the period January-March 2014, with an average requested amount of 10,913 dollars .

 

The most requested amount between 5 and 10 thousand dollars

loan request

Analyzing the demand more specifically, more than half of the requests presented in the first quarter of the year (52.4%) did not exceed 5,000 dollars , an increase of 2.8% compared to the same period of 2014. Down loan applications for amounts between 5,000 and 10,000, down 1.7% and equal to 18% of total requests. Just 0.1% of requests exceed $ 75,000.

 

The demand among the under 35s is decreasing

loan demand

Although slightly (-0.8%), the demand from young people under 35 is decreasing. The 25-34 age group absorbed 17.3% of the requests, 4.8% of the total is less than 24 years old . Loans in the over 65 range , on the other hand, grew, representing 9.5% of the total. The 35-44 year old cluster represents 24.7% of the total number of applicants, the 45-54 age group 25.7%.

 

Less lasting funding is sought

credit loans

Loan applications of less than one year are up 3.0% and amount to 24.5% of the total. Loans lasting more than 5 years , on the other hand, fell to -1.4% and 20.2% of the total. The remaining part of the loans sought by families has a duration of between 1 and 5 years.