Credit conditions in the UK will continue to tighten over the coming months, according to one expert.

Vicky Redwood, from Capital Economics, is convinced that people trying to borrow money will be met with an increasingly reluctant response from money lenders who are keen to avoid any kind of risk.

Many consumers borrow in an effort to ease their debt management and money problems but all kinds of credit deals will become more difficult to obtain as the year goes on, Ms Redwood maintains.

"On the unsecured side, if you were to apply for a credit card you would have less chance of getting one and if you have got one you may see your limit reduced," she explained.

A report from Moneysupermarket.com recently claimed that credit cards are increasingly being used in place of personal loans as debt management habits change across the UK.