AArkstore enterprise 3rd December 2014
Consumer Credit in the UK - Key Trends and Opportunities to 2018 Browse Full Report @ http://www.aarkstore.com/financial-services/67079/consumer-credit-in-the-uk-key-trendsand-opportunities-to-2018 Published: Nov 2014 | No. Of Pages: 81 Pages PDF: $ 2795 | Site Licence : $ 5590 |Enterprise Wide Licence :$ 8385
Synopsis This Consumer Credit in the UK - Key Trends and Opportunities to 2018 report provides market analysis, information and insights into the UK consumer credit industry It provides a breakdown of the different forms of consumer credit in the UK It analyzes drivers and the outlook for the market It provides information on the main banks in the UK market It covers news and regulatory developments
Summary Consumer credit increased throughout 2014, as economic recovery gained momentum Consumer credit growth has shown consistent signs of growth in 2014, for the first time since before the financial crisis. This is in a large part due to consumer confidence also recording a positive number for the first time since the credit crunch, low interest rates and a steadily growing GDP, as nearly every category of lending has grown up to July 2014.Demand for and availability of credit also grew in both the second and third quarters of 2014, which has been a key factor.
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AArkstore enterprise Record-low interest rates on personal loans driving other loans and advancements category HSBC became the first lender to break the 5% interest rate barrier for its GBP7,50015,000 personal loan, which launched a price war between mainstream lenders, as each bank or building society tried to get to the top of the comparison tables. Tesco lowered its interest rates soon after, and Sainsburys raised its upper limit to GBP 35,000 in October a record high personal loan. This means that lending is cheaper than ever for consumers, which has unsurprisingly given the industry a huge boost. The personal loan category was hit harder than any other in the aftermath of the financial crisis, and the stock of personal loans remains over GBP30.0 billion below its January 2008 total, so there is still ample room for recovery.
Central bank rate at remains at 0.5%; rise no longer imminent, but still set for mid-2015 The Bank of Englands (BoE) base rate has been at a record low since March 2009, at0.5%, meaning that financial institutions have had much cheaper access to credit; the rate looks set to rise in mid-2015, however. This was expected sooner, but a contraction in real wages and weaker global growth looks set to delay the increase by at least a quarter. This will cause the cost of credit to rise, as banks will have to pay more for funds. Increases will be very steady, however, and the first rise will only be to a maximum of 0.75%, meaning any setback to the industry should be minor.
Consumer confidence and demand and availability both improving in 2014 Consumer confidence was positive in July 2014 the first time since before the financial crisis, with a score of 1 for the month and the indexs recent surge has helped to drive the consumer credit industry during this year. The index averaged -29.1 in 2012 and -19.9 in 2013, but just -6.8 in 2014. This improvement is expected to continue, as it has risen throughout 2014, although the BoE increasing the central bank rate could set it back temporarily.
Both demand for and availability of credit increased in the second and third quarters of 2014, as the overall industry has grown. Previously, demand had generally outstripped availability since 2009, as banks became reluctant to approve loans, though availability also remained in negative net percentage balances until 2011.
Motor finance continues to record extraordinary growth
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AArkstore enterprise Motor finance is the only typical form of consumer credit that has recorde substantial growth for a prolonged period. Both the number of new cars bought from dealerships and the value of advances paid on new cars have grown monthly on the previous year, staying at consistently above 20% since the beginning of 2012. Student loan figures surge as higher tuition fees introduced
The student loan category is not affected by the same factors as the rest of the consumer credit industry, as growth has been driven by the number of students and cost of tuition continuing to rise. The substantial jump from GBP3.97 billion in 20122013 to GBP 5.66 billion in 20132014 represents the impact of increased tuition fees. Credit card market begins to recover after extremely difficult period
Much like the personal loan category, credit cards suffered massively during the credit crunch. Gross lending on credit cards has been growing since 2013, which shows the industry is recovering. Repayments have been rising at a very similar rate, however, which suggests consumers still remain wary of debt.
Scope This report provides market analysis, information and insights into the UK consumer credit industry It provides a breakdown of the different forms of consumer credit in the UK It analyses drivers and the outlook for the market It provides information on the main banks in the UK market It covers News and regulatory developments
Reasons To Buy Gain an understanding of the UK consumer credit industry
Key Highlights
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AArkstore enterprise Consumer credit growth has shown consistent signs of growth in 2014, for the first time since before the financial crisis. This is in a large part due to consumer confidence also recording a positive number for the first time since the credit crunch, low interest rates and a steadily growing GDP, as nearly every category of lending has grown up to July 2014.Demand for and availability of credit also grew in both the second and third quarters of 2014, which has been a key factor.
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Tables Of Contents 1 Executive Summary 2 Introduction 2.1 What is this Report About? 2.2 Definitions 2.3 Methodology 3 Market Analysis 3.1 Total Lending 3.1.1 Total stock of lending 3.1.2 Total gross lending 3.1.3 Total net lending
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AArkstore enterprise 3.2 Lending by Institution 3.2.1 Lending from MFIs 3.2.2 Lending from other sources 3.3 Lending by Type of Credit 3.3.1 Credit cards 3.3.2 Other loans and advances 4 Consumers 4.1 Consumer Confidence 4.2 Demand for and Availability of Credit 4.2.1 Demand 4.2.2 Availability 4.3 Economic Climate 4.3.1 Interest rates 4.3.2 Energy bills 4.3.3 Source of debt 4.4 Retail Sales 4.5 Lending to the Underbanked, Unbanked and Sub-Prime Customers 4.5.1 Unbanked consumers 5 Market Outlook 6 Completive Landscape 7 Regulation and Policy 7.1 Regulators 7.1.1 Financial Conduct Authority (FCA)
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AArkstore enterprise 7.1.2 Prudential Regulation Authority (PRA) 7.1.3 Monetary Policy Committee (MPC) 7.1.4 Treasury Committee 7.1.5 Competition and Markets Authority (CMA) 8 UK Bank Profiles 8.1 Santander UK Plc 8.2 Lloyds Banking Group 8.3 Barclays Plc 8.4 Royal Bank of Scotland Group Plc 8.5 HSBC 9 Personal Loans Offered 9.1 Santander UK Plc 9.2 Royal Bank of Scotland Group Plc 9.3 HSBC Bank Plc 9.4 Barclays Plc 9.5 Lloyds Banking Group 9.6 Nationwide 10 Statistics 10.1 Review Period (20092013) 10.2 Forecast Period (20142018) 11 News 12 Appendix 12.1 Methodology
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AArkstore enterprise 12.2 Contact Timetric 12.3 About Timetric 12.4 Timetrics Services 12.5 Disclaimer
List Of Tables Table 1: The UK Consumer Credit Market (GBP Billion), 20092013 Table 2: The UK Consumer Credit Lending (GBP Million), 20142018
List Of Figures Figure 1: UK Outstanding Consumer Credit (GBP Million), 20102014 Figure 2: UK Consumer Credit Gross Lending (GBP Million), 20122013 Figure 3: UK Annual Consumer Credit Gross Lending (GBP Million), 20092013 Figure 4: UK Total Gross Lending and Repayments: 20132014 Figure 5: UK Total Net Consumer Credit Lending: 20132014 Figure 6: UK Outstanding Consumer Credit from MFIs (GBP Million), 20102014 Figure 7: UK Consumer Credit Gross Lending from MFIs (GBP Million), 20102014 Figure 8: UK MFI Gross Lending and Repayments: 20132014 Figure 9: UK MFI Net Consumer Credit Lending: 20132014 Figure 10: UK Outstanding Consumer Credit from Other Sources (GBP Million), 20102014 Figure 11: UK Annual Consumer Credit Gross Lending from Other Sources (GBP Million), 20102014
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AArkstore enterprise Figure 12: UK Other Consumer Credit Lenders Gross Lending and Repayments: 20132014 Figure 13: UK Other Consumer Credit Lenders Net Consumer Credit Lending: 20132014 Figure 14: UK Outstanding Consumer Credit Credit Card Loans (GBP Million), 20112013 Figure 15: UK Annual Outstanding Consumer Credit Credit Card Loans (GBP Million), 20112013 Figure 16: UK Credit Card Gross Lending (GBP Million), 20122013 Figure 17: UK Annual Credit Card Gross Lending (GBP Million), 20122013 Figure 18: UK Credit Cards Gross Lending and Repayments: 20132014 Figure 19: UK Other Consumer Credit Lenders Net Consumer Credit Lending: 20132014 Figure 20: UK Value of Credit Card Purchases (GBP Million), 20082013 Figure 21: UK Number of Credit Card Purchases (Million), 20082013 Figure 22: UK Number and Value of Credit Card Purchases (GBP Million), 20102014 Figure 23: UK Write-Off Growth Rates on Credit Card lending from Banks Figure 24: UK Interest Rates on Credit Card Loans: 20102014 Figure 25: UK Stock of Consumer Credit from Other Loans and Advances, Monthly: 20112013 Figure 26: UK Annual Stock of Other Loans and Advances: 20102014 Figure 27: UK Other Loans and Advances, Gross Lending, Monthly: 20122013 Figure 28: UK Annual Other Loans and Advances, Gross Lending, 20122013 Figure 29: UK Other Loans and Advances Gross Lending and Repayments: 20132014 Figure 30: UK Other Loans and Advances Net Consumer Credit Lending: 20132014 Figure 31: UK Overdraft Lending, Monthly Amounts Outstanding (GBP Million), 20092014 Figure 32: UK Overdraft Lending, Annual Amounts Outstanding (GBP Million), 20082014 Figure 33: UK Interest Rates On UK Overdrafts (%), 20092014 Figure 34: UK Revenue From Arranged and Unarranged Overdraft Charges (GBP Million), 20112013
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AArkstore enterprise Figure 35: UK Personal Loans, Outstanding Amount (GBP Million), 20112013 Figure 36: UK Personal Loans, Gross Lending (GBP Million), 20112013 Figure 37: UK Interest Rates on Personal Loans 20092013 Figure 38: UK Motor Finance Dealership Lending, New Cars Value of Advances and Percentage Change on Previous Year: 20112014 Figure 39: UK Motor Finance Dealership Lending, New Cars Number of Cars bought and Percentage Change on Previous Year: 20112014 Figure 40: UK Motor Finance Dealership Lending, Used Cars Value of Advances and Percentage Change on Previous Year: 20112014 Figure 41: UK Motor Finance Dealership Lending, Used Cars Number of Cars bought and Percentage Change on Previous Year: 20112014 Figure 42: UK Student Loans, Overall Amount Awarded (GBP Million), 20102013 Figure 43: UK Retail Store and Online Credit, Monthly: 20112014 Figure 44: UK Retail Store and Online Credit, Growth Rate on Previous Year: 20112014 Figure 45: UK Paydays Loans, Percentage of Revenue of Loans Rolled Over or Refinanced, 2012 Figure 46: UK Payday Loans, Percentage of Loans Rolled Over or Refinanced, 2012 Figure 47: UK GFK Consumer Confidence Index, January 2012 to September 2013 Figure 48: UK How has Demand for Total Unsecured Credit from Households Changed: 20072014 Figure 49: UK How has Availability for Total Unsecured Credit for Households Changed: 20072014 Figure 50: UK Lending, Salaries, Inflation and Annual Increases (%), 20112014 Figure 51: UK CPI Monthly Inflation Rate (%), 20092014 Figure 52: UK Bank of England Official Bank Rate (%), 20042014 Figure 53: UK Annual Gas and Electricity Bills: 2004-2013 Figure 54: UK Source of Debt: 2013 Figure 55: UK Spending on Higher-Value Items, Monthly (GBP Billion), 20102014
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AArkstore enterprise Figure 56: UK Spending on Higher-Value Items, Monthly (GBP Billion), 20102014 Figure 57: UK Spending on Higher-Value Items, Annually (GBP Billion), 20082014 Figure 58: Total Consumer Credit: Outstanding Balances Forecast: 20142018 Figure 59: Total Gross Consumer Credit Lending: Forecast: 20142018 Figure 60: Credit Card Lending: Outstanding Balances Forecast: 20142018 Figure 61: Other Loans and Advancements Lending: Outstanding Balances Forecast: 20142018 Figure 62: UK Credit Card Market Shares: 2013 Figure 62: UK Personal Loan Outstanding Balances: Market Shares: 2013
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AArkstore enterprise About Aarkstore Enterprise Aarkstore Enterprise is a leading provider of business and financial information and solutions worldwide. We specialize in providing online market business information on market research reports, books, magazines, conference at competitive prices, and strive to provide excellent and innovative service to our customers.
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