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UK Consumer Credit Market Outlook: Q3 2009
Datamonitor, Dec 2009, Pages: 19
The UK consumer credit market saw a further decline in gross lending in Q3 2009 after a moderate improvement in the previous quarter. This latest edition of quarterly outlook series discusses recent developments in the consumer credit market and provides updates forecasts for the period 2009-2013.
Scope
- Provides the latest market sizing data for the UK consumer credit market.
- Covers a variety of consumer credit lines - unsecured personal loans, credit cards, overdrafts, retail finance and motor finance.
- Uses the latest developments in the UK economy in order to build up three forecast scenarios that extend to 2013.
- Includes a complementary interactive Excel model.
Highlights of this title
Gross lending levels declined in the third quarter but the annual decline remained steady between the second and third quarters. Year-on-year gross lending declined by 12.7% in Q3 2009. Meanwhile balances outstanding saw their first annual decline since prior to 1994, falling 3.3% on a yearly basis.
Unsecured personal loans saw a yearly decline of 38% in the third quarter. The particularly poor performance of unsecured personal loans can be attributed to a greater aversion among lenders and borrowers towards high risk unsecured loans. This is reflected in the high rates being offered by lenders, despite the low base rate and Libor rates.
The Department for Business Innovation & Skills has launched a consultation on store and credit cards for its review of credit card borrowing. The concern is that while consumers are turning to these products because they offer an easy source of funds for those with access to them, those applying for them may be unsure of what they entail.
Key reasons to purchase this title
- Review the market performance in Q3 2009 and use it as a benchmark to evaluate your own performance.
- Use market forecasts to plan your future strategy with confidence.
- Understand how the credit crunch has affected the behavior of borrowers, lenders and the government and the impact on the overall economy.
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UK Consumer Credit Market Outlook: Q2 2009
UK Personal Lending 2010: UK Consumer Credit Market in 2009 and Future Outlook
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UK Consumer Credit Market Outlook: Q3 2010
UK Consumer Credit Market Outlook: Q1 2009
UK Personal Lending 2009: UK Consumer Credit Market in 2008 and Future Outlook
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UK Consumer Credit 2010
UK Personal Lending 2009
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