Britons still spending - commercial mortgages

14 December 2007

Firms with commercial mortgages are set continue to reap the rewards of Britons'' spending habits this Christmas, according to a new study from Legal & General.

The firm''s MoneyMood study has found that more consumers are now in the mood to spend than at any other point in 2007

Indeed, the percentage of Britons looking to spend in 2007 has actually risen by three per cent when compared with 2006 figures, the study noted.

"It is really interesting to see that despite suggestions we are starting to feel the pinch, consumers are still getting into the Christmas spirit and spending with confidence," said Julia Clayworth from Legal and General.

"As these results relate to November, I’m pleased to see that people are quite sensibly looking to spread the cost of Christmas over a few months rather than leave it all to the last minute," added Ms Clayworth.

Last month Deloitte predicted that Christmas spending would again rise year-on-year in 2007.