Loans for furnishings skyrocketing with the Furniture Bonus

Taking advantage of the loans and interesting concessions currently underway, it seems that Italians are quite sensitive to the renovation of their home furnishings. The Furniture Bonus allows in fact to buy furniture with a 50% discount, provided that the renovation works started in 2018. It was initially believed that the Bonus would end at the end of 2018. In the end it was decided to keep it active until the end of 2020.

Moral of the story, in 2019 16% of loan requests have the purpose of renewing the furniture or purchasing furniture. Compared to 2018 data, it is a 3.6% increase. Considering the reasons for the entire loan market, the purchase of furniture is in third position, after requests for home renovation (20%) and for the purchase of a used car (19%).

 

Loans aimed at increasing liquidity

Loans aimed at increasing liquidity

The rest of the picture is quite clear. Loans aimed at increasing liquidity remain around 15%, while there is a strong increase (especially in October 2019) in financing to buy a new car or 0 km, with a + 7.6%. Loans with general consolidation purposes instead amounted to 7.5% of the total.

The latest data also confirm the trend we had anticipated in recent days: Italians are asking for loans for increasingly contained figures. Specifically, for the end of October 2019, there is talk of an average value of 10,654 dollars. The value is decreasing both compared to that recorded at the beginning of the year (11,253 dollars), and to that at the end of 2018, when it reached 12,099 dollars.

In confirmation of this, 67.8% of requests for funding are for figures less than 10,000 dollars. Compatibly, consumers prefer to return the money faster than in the past: in fact, loans between 18 and 36 months represent more than 36% of the total.

 

Decrease in loan requests

Decrease in loan requests

It is interesting to note that there has been a significant decrease in requests for loans from the South, the islands and the Center. The percentages speak of a not negligible drop, from 60% in the first six months of 2018 to the current 55%. Instead, the North recovered, which in the same period went from 40% to 45%.

By contrast, the percentages for age groups remain more or less stable. 54.5% of the loans are granted to customers between 18 and 45 years of age. A drop of about 1% compared to the first 6 months of 2018, not too significant.
Lastly, without surprising anyone, most of the loans go to the categories considered the safest, namely workers with permanent contracts (86.4%).

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