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Finance News |
UK Personal Lending 2005
Introduction
Despite several interest rate increases and the general uncertainty about the state of the housing market, the consumer credit market has done remarkably well in 2004. This report examines key market trends, provides detailed consumer and competitor data and presents scenario based forecasts to give readers a detailed view of the current state of the UK consumer credit market.
Scope
Provides a wealth of data from a range of primary and secondary sources, including a series of in-depth interviews with industry experts
Draws on MORI Financial Services data to detail major consumer trends, expectations and preferences in the unsecured personal loans market
Estimates the market share of leading personal loan providers in terms of outstanding balances and gross advances for 2003 and 2004 H1
Presents three forecasting scenarios for gross advances in the consumer credit market to 2009
Highlights
While the consumer credit market as a whole has shown surprising resilience over the past year, the same cannot be said about some individual product lines. Credit cards still dominate the market and personal loans have recovered from the slump of 2003. However, point of sale retail finance has continued to lose ground in the market
The UK unsecured personal loan market has become highly commoditized in recent years as a result of tough competition and favourable economic indicators. Even as interest rates have risen, average loan prices have continued to move in the opposite direction, thus squeezing lenders' margins on both sides
The large high-street lenders still account for the bulk of the market, both in terms of balances outstanding and new business. Big banks have cemented their position at the top largely as a result of their successful response to the price challenge issued by smaller and direct providers
Why you should buy this report
Detailed analysis of the unsecured personal loan market helps you to plan your business strategy with confidence
In-depth analysis of customer acquisition and retention strategies allows you to successfully target specific consumer segments
Datamonitor's five-year forecasts provide you with invaluable insight into the future potential of the consumer credit market
Source : Banking Business Review
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