Consumer credit is set rise by 3.1% this year to £164bn, according to the EY Item Club, after growing just 0.8% in 2013.
The £164bn will be the highest level of consumer credit since 2010, in line with increased consumer confidence about employment and wage prospects.
This marks “a return to some form of normalcy” in borrowing conditions, the report said.
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Andrew Goodwin, senior economic advisor to the ITEM Club, said: “2014 will hopefully be the turning point for many UK households’ access to credit.
“Last year we saw growth in credit card lending and demand for car finance recovering strongly but other forms of unsecured credit either fell or remained stagnant.
“This year we expect growth across the board – as well as a swell in consumer demand for credit cards, we expect stronger demand for big-ticket purchases, driving retail finance and personal loans, which will be good news for banks.”