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Country Report
Consumer Credit in
United Kingdom
- Argentina
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Consumer Credit in the United Kingdom
Oct 2020
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Executive Summary
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2020 IMPACT
Consumer confidence drop results in credit repayments in 2020
The spread of COVID-19 severely affected the card lending market in the UK in 2020. The 3-month lockdown led to the closure of many businesses, which left households with reduced income and financial difficulties.
Uncertain economic outlook causes decline in new loans
Non-card consumer credit lending categories have all been negatively impacted by the consequences of the pandemic, with most categories recording a double-digit decline in terms of new loan applications. Many households prioritised spending on essentials, such as groceries, and put on hold the purchase of durable goods, like household consumer electronics or automobiles.
Unprecedented financial situation leads to the introduction of payment holidays
The UK Government announced the launch of payment holidays in March 2020 to support borrowers needing help. The initial 3-month scheme, which offered a break from debt repayment, was extended to six months until the end of October.
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Overview
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Credit industry in United Kingdom with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, with our detailed market analysis and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Credit industry in United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.
The market research report includes:
- Outstanding Balance by Category
- Gross Lending by Category
- Historic values and Five year forecasts
- Robust and transparent market research methodology, conducted in-country
Why buy this report?
- Gain competitive intelligence about the Consumer Credit market
- Track key industry trends and opportunities
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Request more informationTable of Contents
Consumer Credit in the United Kingdom - Category analysis
KEY DATA FINDINGS
2020 IMPACT
Consumer confidence drop results in credit repayments in 2020
Uncertain economic outlook causes decline in new loans
Unprecedented financial situation leads to the introduction of payment holidays
RECOVERY AND OPPORTUNITIES
Economic uncertainty will affect gross card lending
Investment in education means this category is least impacted by COVID-19
Low BoE rate will not be enough to boost consumer confidence in borrowing
CATEGORY DATA
Table 1 Consumer Credit: Outstanding Balance by Category: Value 2015-2020Table 2 Consumer Credit: Outstanding Balance by Category: % Value Growth 2015-2020
Table 3 Consumer Credit: Gross Lending by Category: Value 2015-2020
Table 4 Consumer Credit: Gross Lending by Category: % Value Growth 2015-2020
Table 5 Forecast Consumer Credit: Outstanding Balance by Category: Value 2020-2025
Table 6 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2020-2025
Table 7 Forecast Consumer Credit: Gross Lending by Category: Value 2020-2025
Table 8 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2020-2025
Consumer Lending in the United Kingdom - Industry Overview
MARKET DATA
Table 9 Consumer Lending: Outstanding Balance by Category: Value 2015-2020Table 10 Consumer Lending: Outstanding Balance by Category: % Value Growth 2015-2020
Table 11 Consumer Lending: Outstanding Balance by Category: Value 2015-2020
Table 12 Consumer Lending: Outstanding Balance by Category: % Value Growth 2015-2020
Table 13 Consumer Lending: Gross Lending by Category: Value 2015-2020
Table 14 Consumer Lending: Gross Lending by Category: % Value Growth 2015-2020
Table 15 Consumer Lending: Gross Lending by Category: Value 2015-2020
Table 16 Consumer Lending: Gross Lending by Category: % Value Growth 2015-2020
Table 17 Consumer Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 18 Mortgages/Housing: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 19 Consumer Credit: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 20 Card Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 21 Forecast Consumer Lending: Outstanding Balance by Category: Value 2020-2025
Table 22 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2020-2025
Table 23 Forecast Consumer Lending: Outstanding Balance by Category: Value 2020-2025
Table 24 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2020-2025
Table 25 Forecast Consumer Lending: Gross Lending by Category: Value 2020-2025
Table 26 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2020-2025
Table 27 Forecast Consumer Lending: Gross Lending by Category: Value 2020-2025
Table 28 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2020-2025
APPENDIX
DEFINITIONS
Summary 1 Research SourcesCATEGORY DATA
Table 29 Consumer Credit: Outstanding Balance by Category: Value 2015-2020Table 30 Consumer Credit: Outstanding Balance by Category: % Value Growth 2015-2020
Table 31 Consumer Credit: Outstanding Balance by Category: Value 2015-2020
Table 32 Consumer Credit: Outstanding Balance by Category: % Value Growth 2015-2020
Table 33 Consumer Credit: Gross Lending by Category: Value 2015-2020
Table 34 Consumer Credit: Gross Lending by Category: % Value Growth 2015-2020
Table 35 Consumer Credit: Gross Lending by Category: Value 2015-2020
Table 36 Consumer Credit: Gross Lending by Category: % Value Growth 2015-2020
Table 37 Forecast Consumer Credit: Outstanding Balance by Category: Value 2020-2025
Table 38 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2020-2025
Table 39 Forecast Consumer Credit: Outstanding Balance by Category: Value 2020-2025
Table 40 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2020-2025
Table 41 Forecast Consumer Credit: Gross Lending by Category: Value 2020-2025
Table 42 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2020-2025
Table 43 Forecast Consumer Credit: Gross Lending by Category: Value 2020-2025
Table 44 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2020-2025
EXECUTIVE SUMMARY
COVID-19 impact on consumer lending
COVID-19 country impact
Payment holidays to help debt repayment during and after the pandemic
Despite low BoE rate, supply and demand of new loans are both down
Property market hit hard, although mortgage approvals rise after lockdown
What next for consumer lending?
MARKET DATA
Table 45 Consumer Lending: Outstanding Balance by Category: Value 2015-2020Table 46 Consumer Lending: Outstanding Balance by Category: % Value Growth 2015-2020
Table 47 Consumer Lending: Gross Lending by Category: Value 2015-2020
Table 48 Consumer Lending: Gross Lending by Category: % Value Growth 2015-2020
Table 49 Consumer Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 50 Mortgages/Housing: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 51 Consumer Credit: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 52 Card Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 53 Forecast Consumer Lending: Outstanding Balance by Category: Value 2020-2025
Table 54 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2020-2025
Table 55 Forecast Consumer Lending: Gross Lending by Category: Value 2020-2025
Table 56 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2020-2025
DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 2 Research SourcesWhy buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
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- Consumer Credit in the United Arab Emirates | Nov 2020
- Consumer Credit in the US | Nov 2020
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- Consumer Credit in Venezuela | Oct 2018
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