Bharat Book Bureau
The UK secured personal loans market has come a long way since the 1990s. Indeed, the UK secured personal loans market performed well in 2006 and is now at a crossroads in its development. Impending regulation should also help to improve the market’s reputation. Yet while the market’s prospects are encouraging, lenders will need to cope with increasing competition.
Scope of this report
Quantifies the size of the UK secured personal loans market (second charge market).
Gives insight into the future challenges lenders and brokers will face.
Provides gross advances forecasts of the secured personal loans market up to 2011 under three scenarios.
Research and analysis highlights
The interplay between lenders and their intermediaries is hugely significant. It is highly important that lenders keep in mind that competitive pricing and product suitability are most important to intermediaries when choosing a lender, and that brokers can be tempted to choose other lenders by better pricing and faster turnarounds.
The secured personal loans market is becoming more competitive. Indeed, price competition has increased, competition in the broker channel has become too tough for some lenders, and aggressive advertising continues to be a method of customer acquisition. Yet product innovation is still lagging behind price in importance and development.
In response to the US sub-prime mortgage crisis and the global credit crunch, a number of lenders have left the secured personal loans market or withdrawn temporarily amid greater uncertainty. Yet Datamonitor believes that there will still be demand from consumers, and that there are other lenders and intermediaries waiting to enter the market.
Key reasons to read this report
Plan your strategy with confidence using Datamonitor’
Better plan your strategies using our estimated market shares for the major players in the market.
In-depth analysis of how lenders are coping with a number of issues allowing you to reassess your strategy.
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