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UK Personal Lending 2009
Datamonitor, Oct 2009, Pages: 103
The recession in the UK has impacted lending considerably and the consumer credit landscape is now very different to what it was a year ago. However, with change comes opportunity, and with signs of a slow but steady recovery on the horizon, lenders will need to move quickly to take advantage of the improving consumer sentiment in the economy.
Scope
- Covers unsecured personal loans, credit cards, overdrafts, motor finance and retail finance in the UK with the main focus on unsecured personal loans.
- Provides forecasts under 3 different scenarios for the consumer credit market as a whole as well as for individual product lines.
- Includes market share data for 2008 for major personal loan providers and examines the latest competitor developments shaping the market.
- Provides discussion and analysis of several key issues facing UK consumer credit lenders.
Highlights of this title
The UK personal lending market has suffered considerably over the past year. Lending has declined across all product lines, and many lenders have left the market entirely. While some signs of recovery are on the horizon, the supply of credit is still restricted, and perhaps more importantly, consumers are reducing borrowing and debt obligations.
Datamonitor expects conditions to remain tough throughout 2009 and 2010 before improving in 2011. Datamonitor's expectation is of an overall contraction of around 12% in the market from £192.9 billion to £170 billion between 2008 and 2009.
The competitive landscape has also shrunk considerably. In June 2008, there were 46 lenders offering unsecured personal loans, down from 58 in June 2007, however, by June 2009 this number had dropped further to just 37.
Key reasons to purchase this title
- Gain access to the latest market sizing and forecasting data for the UK consumer credit market to place your performance in context to the market's.
- Gain insight into how your competitors are responding to the various issues facing the unsecured lending sector.
- Receive updated market share data to tell you how your company compares to your closest rivals.
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