UK banks expect sharp rise in defaults on unsecured debt

Missed repayments on credit cards and loans will increase by more than any quarter since 2009, lenders forecast Business live - latest updates Britain's biggest high street lenders expect the sharpest rise in defaults on unsecured lending since 2009, according to a Bank of England survey, as households come under growing pressure amid the cost of living crisis. The figures from Threadneedle Street show banks expect a marked rise in the number of people who fail to meet repayments on credit cards...