An increasing number of Britons are using credit cards for regular spending and then obtaining secured loans to clear the balance, it has been claimed.

David Warnes, director of the Repossessions Advice Centre, observes a growing trend for lending secured against property to be used in such a way.

He notes that such secured loans may be used to clear credit card debt accrued through everyday use - which is typically charged at a higher rate of interest.

"A lot of people who come to us are paying for the petrol in their cars and train tickets on credit cards," he explains.

Mr Warnes adds that a "big percentage of the country have been subsidising their lives through the value of their property".

Furthermore, he states that good credit conditions in recent years have led to many people having "neglected the need" to earn more and spend less.

Britons who find they cannot obtain a personal loan following the recent credit crunch could find secured loans a more accessible option.ADNFCR-1287-ID-18344875-ADNFCR

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