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Learn moreOct 2019
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Growth in both the outstanding balance and gross lending slowed within consumer lending in current value terms in 2019, as economic uncertainty led to lower consumer confidence. A slowdown in borrowing activity was seen in the UK, particularly for unsecured debt, as consumers exhibited a low appetite for borrowing due to the unstable economic conditions.
As of mid-October 2019, the Bank of England (BoE) base rate stood at 0.75%, unchanged since August 2018, when it was raised for the second time in a decade, up from 0.
New EU regulation requires banks to disclose information on customers’ account data to third-party companies. Known as open banking, this aims to foster competition in the marketplace.
The trend towards lower levels of borrowing was also observed in mortgages/housing in 2019, with slowing growth in both the outstanding balance and gross lending in current value terms. Despite the slowing growth of house prices due to Brexit uncertainty, demand for housing and supply activity weakened due to the uncertain economic prospects.
Consumer lending is expected to continue to see current value growth in both the outstanding balance and gross lending in all categories in the forecast period. Card lending and education lending are expected to see the strongest increases in gross lending.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Lending industry in United Kingdom with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Lending industry in United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.
The Consumer Lending in United Kingdom market research report includes:
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Why buy this report?
Euromonitor’s industry reports, including Consumer Lending in United Kingdom, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.
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.