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-keytrends-and-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...