Gross lending on cards in the UK is predicted to record a 2% value CAGR (at constant 2024 prices) over the forecast period. One of the main factors driving this growth is the expectation that the local population will continue to rely on credit to deal with financial constraints, support their regular spending, and maintain their lifestyles.
Upcoming regulations are anticipated to have an impact on BNPL's future growth. Although the introduction of regulations has been postponed for several years, the UK's new government has declared that efforts to consider regulations pertaining to this type of lending will begin in the short term.
The outstanding balance from non-card lending is expected to strongly rise over the forecast period, with a major contribution from education lending, where outstanding balance is set to record a 7% value CAGR (at constant 2024 prices). This will be driven by expectations for further increases in tuition fees and maintenance costs, which push students to apply for more loans for their studies.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in United Kingdom with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in United Kingdom, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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