UK’s Loan FOMO: Search Numbers Soar, Energy Prices Soar

It’s been a wild month for the British public—if you’ve been on Google looking for a payday‑spending fix, you’ve seen the numbers sky‑rocket.

Searches (and Stress) jacked 123%

On 26 August 2022, queries for the word “loans” exploded by 123%.
That’s the most dramatic rise we’ve seen in over a year.
In plain English: more than twice as many Brits than usual were scouring the web for borrowing tips.

Energy Prices Get a Second Shock

As if the loan craze weren’t enough, the government’s energy regulator, Ofgem, tossed the annual cap to £3,549—a staggering 80% jump.

That figure means:

Top‑up on heating and cooling bills.
An extra bite out of every household’s wallet.
Either buy an extra kettle of tea or save the pennies for a loan?

Is the Cost of Living Crisis Turning a Tide?

Financial adviser Loan Corp flags that the surge in “loans” searches is tied to the Cost of Living Crisis—every penny now feels like a pinch.

They say this is a once‑in‑a‑generation spike.

So What Does This Mean for You?

Bottom line: if you’re thinking about borrowing, or just dragging the tab to the “loans” search bar, you’re in good company. And if your lights feel a bit pricier, you’re not alone.

Stay tuned, suit up, and keep an eye on the bank—those numbers aren’t going anywhere!

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Energy Prices Spike & the Surging Loan‑Hunting Fever

U.K. households are in a frantic scramble—energy bills are climbing, inflation is at 10.1%, and people are turning to online loan searches with an eye‑popping 295 % jump since the latest Ofgem cap announcement.

The Numbers Tell the Story

Searches for “apply for a loan” have rock‑star‑leveled up 295 % after the news hit.
Energy bills are the single biggest driver of the cost‑of‑living squeeze.
With the upcoming autumn price‑cap hike, many are feeling the crunch even harder.

What Loan Corp Spokesperson Had to Say

“The British public has been hit with a headline that says energy prices are about to double in the coming months,” the spokesperson explained. “It’s forcing people to look for alternatives—like taking out a loan—to get through the lean times.”
“However, the recent Ofgem announcement is also spurring more people to search online for loans. The cost‑of‑living crisis is clearly squeezing everyone.”

She added, “You should only grab a loan once you’ve done your homework, especially since the bills are expected to climb. Will those online searches actually turn into loan applications? Time will tell.”

Financial Impact – Bloomberg‑style Insight

“The fallout from the massive price‑cap rise is going to be felt by millions of folks across the U.K. by fall,” the spokesperson warned. “Energy bills already make up the lion’s share of the growing cost‑of‑living crisis. Anyone who’ll admit – that’s going to be a real hit in the chilly months.”

Expert Advice From Brean Horne, NerdWallet

Brean Horne, a personal finance guru, weighed in:

“Now more than ever the household needs to gain control over finances. Take steps to fight the energy crisis.”

“Check with your energy provider about cheaper tariffs for existing customers if you’re looking to switch to a fixed rate. And always lock in a rate that’s lower than the expected cap.”

“Keep tabs on the Energy Bills Support Scheme. It could open up helpful assistance.”

“And sandbox‑down your consumption at home. Less electric, less heat, less money on the bill.”

The Bottom Line

“Unfortunately, regardless of who you use, you’re going to see a steep rise in your energy bills,” Brean concluded. “But if you stay proactive and make the changes necessary, you can make sure you’re not paying more than you absolutely have to.”

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