CreditExpert.co.uk: Credit crunch causes Brits to put life on hold

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CreditExpert.co.uk: Credit crunch causes Brits to put life on hold

Many Brits are putting key life decisions, such as moving house or having a baby, on hold because of the current economic climate, according to research published today.

CreditExpert.co.uk found that 75 per cent of UK adults, or some 36 million people, are planning to put off important, potentially life-changing moves they had planned to make next year.

According to the research, 50 per cent of people are putting off buying a car, 30 per cent are putting off investing in property and 27 per cent are putting their plans to change jobs on hold.

Jim Hodgkins, managing director of CreditExpert.co.uk, said: "Those that are holding off on pursuing their plans because they're worried about being refused a loan or credit should check their credit report to ensure nothing is keeping them from pursuing their life goals."

Recently, research by uSwitch.com found that personal loans were becoming more expensive, with no lenders offering APRs of less than eight per cent.

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