UK Consumer Credit Future Opportunities and Forecast to Reach 329.5bn by 2021

An up-to-date research report has been disclosed by Market Research Hub highlighting the title “UK Consumer Credit 2017” which provides report offers five-year gross lending forecasts for all major lines of consumer credit up to 2021, along with a detailed examination of the various demand- and supply-side factors that will determine the market outlook. The rate of growth in consumer credit gross advances, which picked up in 2015, has slowed and year-end figures for 2017 are expected to show growth of 4.6%. Growth will remain moderate throughout the rest of the forecast period, meaning that gross advances are expected to total 329.5bn by 2021.

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On the supply side, high incidences of bad debt, tighter lending criteria, and a cautious approach towards unsecured lending among providers and regulators will check the rate of growth of credit supply over the forecast period. On the demand side, the slow pace of economic recovery, political uncertainty arising from the Brexit negotiations, low levels of consumer confidence, and weak retail sales largely due to consumers choosing to withhold spending will adversely impact consumer’s appetite for lending.

It offers insight into -
- the key macroeconomic, regulatory, and other factors that will drive the demand for, and supply of, consumer credit over the next five years
- the outlook for total consumer credit including overdrafts, P2P, motor finance, payday lending, home credit, credit cards, and retail finance

Scope

- Peer-to-peer (P2P) lending will see double-digit growth up to 2021. The sector will continue to enjoy rapid expansion due to increased consumer awareness and partnerships with other related sectors.
- The motor finance boom has started to decline, with growth falling to a lower level of 3.4% in 2017. New car sales are falling, and the excess of vehicles that will enter the used car market over the next few years will drive down prices. Both trends will dampen demand for credit.
- Payday lending has been severely curtailed by tougher regulation, including strict price caps and comprehensive affordability checks. These measures have significantly reduced the supply of credit and will depress gross lending.

Browse Full Report with TOC: https://www.marketresearchhub.com/report/uk-consumer-credit-2017-forecasts-and-future-opportunities-report.html

Reasons to buy

- Develop more targeted strategies through the analysis of key market developments.
- Inform your future plans with our five-year forecast of gross advances for all credit lines.
- Analyze trends with details of historic gross advances across a range of credit lines
- Benchmark yourself against competitors and ensure you remain competitive as new innovations begin to enter the market.
- Be prepared for how regulation will impact the consumer credit market over the next few years.
- List companies, categories, geographies and target audiences covered in the report.

Enquire About This Report: https://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=1581000

About Market Research Hub:

Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of banking market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

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This release was published on openPR.