Midlands 103

Search

On Air Now

Noon - 3:00pm

The Afternoon Show

Personal Loans Reach An All Time High

Thursday, 9 November 2023 16:11

Many loans have been taken out for cars and home improvements.

We're borrowing more money for new cars and home improvements.

Figures from the Banking and Payments Federation Ireland show the number of people taking personal loans is at an all time high.

€539m in personal loans were drawn down in the months between April and June of this year.

Car loans rose by 50% on last year, home improvement loans were up 27%.

Manager at North Midlands Credit Union, Tom Allen, says the amount of money they are giving out on lending is increasing month on month:

More from Midlands News

OPW Minister "Annoyed" At Government Over Budget Kite Flying

Minister Kevin Boxer Moran says it's still too soon to make any firm commitments in this year's package.
Demonstration On Family Court System Taking Place in Dublin

Longford's Anna Kavanagh is one of the "Walk In Our Shoes" campaign organisers.
Public Sector Workers Begin Work-To-Rule Action

5,200 FORSA civil and public service members working across Laois, Offaly, and Westmeath are taking part today.
Walk Out For Women Taking Place Across Laois, Offaly, And Westmeath

People across the region are being asked to walk out in solidarity with victims of gender based violence.
Woman Hospitalised After Three Car Midlands Crash

The incident took place in Athlone on Monday.
Over 100 Without Power Across The Midlands After Stormy Weather

The ESB says it's working from first light to reconnect customers.
Funeral For Father And Daughter Killed In Offaly Workplace Accident Tomorrow

The incident took place at Banagher Precast Concrete on Monday morning.
Westmeath Town Becoming Increasingly Popular To Live In

Jennifer Walsh from the Castlepollard office of Davitt & Davitt says the town is gaining popularity among commuters.