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Competitive Dynamics in the UK Personal Loan Market 2008 (Datamonitor)

Market: Finance and Banking
Published Date: 06/12/2008
Report Title: Competitive Dynamics in the UK Personal Loan Market 2008
Table of Contents: View Table of Contents
Report Type: Market Report
Country: UK
Number of Pages: 24

Introduction

The UK unsecured personal loan sector has continued to contract in 2007 and more lenders are now focusing on good quality customers rather than volume. Moreover, the advent of the credit crunch has led to fewer players in this sector and to significant increases in personal loan interest rates, as well as a marked change in customer acquisition strategies.

Scope

Provides market shares in balances outstanding and gross advances for major unsecured loan providers.

Provides advertising spend for top personal loan providers.

Discusses the key competitive changes in the market over the last twelve months.

Highlights

Many lenders have intentionally been reducing their market share as they shift their focus to good quality lending and reject more customers, as opposed to losing share naturally.

From a total of 57 unsecured personal loan providers in May 2007, this number has fallen to just 46 in May 2008, representing a contraction of 19% in the number of unsecured personal loan providers.

While rising bad debts was the trigger for a shift away from mass customer acquisition, the credit crunch has further contributed to this trend.

Reasons to Purchase

Gain insight into the performance of your competitors.

Learn how the market is changing and evaluate any opportunities for your business arising from these changes.

Learn how your competitors are adapting their strategies in a changing market.

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