A fifth of Britons plan to spend more than £500 in the run-up to Christmas, it has been claimed.

Figures from insurance society NFU Mutual reveal that 20 per cent of consumers expect to break the £500 expenditure benchmark, while nearly twice as many (39 per cent) are to spend between £150 and £300.

Individuals whose finances do not stretch as far as they like could turn to secured loans to meet the costs of the festive season.

Spokesperson for the firm Laura Wood observes that purchasing gifts may not be the only obstacle Britons face when it comes to their spending this Christmas.

"People living in rural areas can also be more susceptible to power cuts and long-term power loss," she explains.

"And when you have a freezer full of lovely Christmas goodies, this can be disastrous."

Rural residents were recently also warned by NFU Mutual of the hazards posed by icy roads in remote areas.

But those who find they are faced with a hefty repair bill after a winter driving mishap could turn to secured loans to provide the funds they need and repay the borrowing over the coming months.ADNFCR-1287-ID-18370325-ADNFCR

Request a Callback

Fill in your details and we'll call you back