Consumer lending remained weak in May, according to the latest figures from the Bank of England, suggesting that a level of uncertainty still exists amongst banks.

However, major UK lenders did report a slight improvement in net lending in the form of personal loans in June.

The Bank said that major UK lenders had not reported any plans to increase the availability of credit to consumers in the near future, and they had not seen any significant signs of an increase in demand.

A spokesperson for Think Banking said: “Although some people are beginning to talk about economic recovery, there is still a lot of uncertainty with regard to what will happen in the economy over the next few months.

“June`s slight improvement in lending is encouraging, but we`ll have to wait a while before we can see if it is the beginning of a longer-term recovery.”