Survey: 91% without positive view of lending

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Nearly two-thirds of those responding to a survey by the Hungarian branch of personal loan provider Cofidis said that they are wary of hidden lending costs, the bank's quarterly loan monitor shows. 

Only 9% of respondents had a positive view of lending, while 51% accept the notion of lending and 40% oppose it according to the survey in which Cofidis questioned 500 residents of Hungary. Some 66% cited hidden costs as a primary reason to avoid taking out loans.

Further findings showed that 49% of respondents between the ages of 18 and 69 reported that their standard of living had declined in 2013 as compared to 2012, while 11% reported that theirs had improved over that period.

A total of 52% of survey participants stated they had just enough money to purchase basic necessities, while 11% reported that they did not even have this much. A total of 4% of respondents said they are able to save money.

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