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UK Personal Lending 2009: UK Consumer Credit Market in 2008 and Future Outlook
Datamonitor, May 2009, Pages: 24
The UK consumer credit market has continued to contract in 2008, as various issues such as the liquidity squeeze, high personal debt levels and weaker consumer spending power continued to take their toll on the industry. With few signs of the current situation alleviating for some time, the future of the UK consumer credit market continues to look bleak.
Scope
- Covers unsecured personal loans, credit cards, overdrafts, motor finance and retail finance in the UK.
- Provides forecasts for gross advances under 3 different scenarios for the consumer credit market as a whole as well as for individual product lines.
- Examines the factors that have impacted on the consumer credit market over the course of 2008.
Highlights of this title
Liquidity issues continued to affect lending markets in the UK in 2008. Although the impact of the credit crunch on personal lending markets is less than that on the mortgage market, it has nonetheless contributed to the subdued performance of the consumer credit sector.
Datamonitor expects conditions to deteriorate further during 2009 before a slight improvement in some key economic indicators during 2010, while others will continue to languish. Similarly, there will be growth in some consumer credit product lines in 2010, but others will continue to stagnate.
The government is actively trying to rescue the consumer credit market but is limited by enforceability. In any case, there needs to be some redress of the pact actions of lenders and consumers in order to build a model of sustainable consumer lending and long-term economic growth.
Key reasons to purchase this title
- Gain access to the latest market sizing and forecasting data for the UK consumer credit market to compare your performance with the markets.
- Understand how the market is changing and evaluate any opportunities for your business arising from these changes.
- Plan your future strategy with confidence using The scenario based forecasts.
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