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市場調查報告書
英國個人貸款市場：2009年
UK Personal Loan Distribution 2009
| 出版商 |
Datamonitor |
| 出版日期 |
2010年02月 |
商品編碼 |
114625 |
| 內容資訊 |
英文 Pages: 92 |
| 價格 |
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英國個人貸款市場：2009年 是由出版商Datamonitor在2010年02月所出版的。
這份英文市場調查報告書包含Pages: 92 價格從美金4495起跳。
英國個人貸款的仲介市場受到不景氣非常大的影響，貸方為避免過度的風險，把重點擺在既有客戶上。
本報告，彙整了英國個人貸款各個管道的規模與預測、個人貸款商品相關的消費者動向、市場上的仲介業者的動向等，由下列摘要形式闡述。。
概述
報告摘要
第1章 個人貸款銷售的概述
- 2008年至2009年，個人貸款市場持續低迷
- 未來數年間預期個人貸款市場將逐漸恢復
- 個人貸款透過多元銷售管道進行販售
- 直接管道的個人貸款銷售預期未來數年間將持續受到歡迎
第2章 貸款的直接銷售
- 貸方與其開發新的借方，不如重視既有的客戶群
- 新加入銀行業的成員，可能影響貸款銷售其他管道的受歡迎程度
- 貸方著眼於分店的客戶應對上的強化
- 網路的個人貸款商品持續發展
- 直接貸款的使用情況減少
- 客服中心對貸方的策略上來說依然是不可或缺的
第3章 貸款的仲介銷售
- 個人貸款市場的仲介業者重視抵押貸款
- 個人貸款市場開始恢復，而Abbey狀況不錯
- 出現了降低手續費的徵兆，仲介業者降低成本
- 仲介業者在選擇貸方時重視價格
- 信用危機的影響造成貸款商品的種類減少
- 仲介業者在維持既有客戶群上仍然面臨著困難的課題
附錄
Abstract
Introduction
The intermediary channel has been hit hard by the recession as business has
dried up in general. Lenders are looking to avoid taking on excessive risk by
focusing on existing customers. The rise in the popularity of the internet has
been tempered by a desire on the part of consumers for more face-to-face
advice in a branch. Call centers also remain an important channel of
arrangement.
Scope of this research
- Sizes and forecasts the popularity of different distribution channels in
terms of arrangement of secured and unsecured personal loans.
- Uses Datamonitor' s proprietary Retail Banking Survey to gain more of an
insight into consumers' behaviour regarding personal loan products.
- Analyses the results of Datamonitor' s Intermediary Distribution Survey to
understand intermediaries attitudes in the market.
Research and analysis highlights
Branches have seen a resurgence during the credit crunch for the arrangement
of personal loans. For secured personal loans, more than one third of
respondents went through the branch, whereas the intermediary channel, which
has traditionally performed strongly was used by less than 10%.
The arrival of new entrants from outside the world of UK financial services
could shake up the personal loans market. Entrants such as Tesco can bring
their experience from running a successful retail operation to attract
customers from the incumbent players.
The internet has encouraged innovation in the type of lending available.
Peer-to-peer lending through websites such as lendingkarma and Zopa have
become popular in the US but their success has not yet translated to the UK
market. Nonetheless other websites such as Wonga are looking to differentiate
themselves through the type of lending they offer.
Key reasons to purchase this research
- Provides lenders with an understanding of the dynamics of personal loan
distribution and how it is likely to develop over the next few years.
- Uses proprietary surveys to provide insight into the behaviors and
attitudes of consumers and intermediaries to the current the market conditions.
- Presents forecasts for the performance of different channels and the
personal loans market as a whole, split into both secured and unsecured loans.
Table of Contents
OVERVIEW
EXECUTIVE SUMMARY
- The market for personal loans continued to decline in 2008 and 2009
- Total personal lending volumes declined significantly between 2004 and
Q3 2009
- Lenders are focusing on their existing customer base rather than on
attracting new borrowers
- Lenders are focusing on their core customer base when selling loans
- The sale of loans has fallen, but branches are an important part of the
distribution of loans
- Intermediaries concentrate on pricing issues when deciding upon their
choice of lender
- Competitive pricing is the most important feature for intermediaries
when choosing a lender
OVERVIEW OF PERSONAL LOAN DISTRIBUTION
- The market for personal loans continued to decline in 2008 and 2009
- Total personal lending volumes declined significantly between 2004 and
Q3 2009
- UK lenders offer secured and unsecured loans, products that are quite
different
- The decline in personal lending has been more acute in the secured market
- The personal loan market is expected to recover slowly over the next
couple of years
- Unsecured personal lending is expected to grow by 5.9% between 2009 and
2013
- Secured personal lending is expected to grow by 6.2% between 2009 and
2013
- Personal loans continue to be distributed through an array of distribution
channels
- Personal loans can be taken out through three main routes
- Datamonitor' s retail banking survey provides insight into consumers'
channel usage
- Direct through the internet is the most important channel of arrangement
for unsecured personal loans
- The popularity of bank branches has remained steady as consumers put
renewed importance on face-to-face contact
- The distribution of personal loans via direct channels is expected to
remain popular over the next few years
- Direct lending will continue to dominate the indirect proposition for
unsecured personal loans
- Intermediaries will see their share of the secured market pick up after
a large fall during the economic crisis
DIRECT LOAN DISTRIBUTION
- Lenders are focusing on their existing customer base rather than on
attracting new borrowers
- Lenders are focusing on their core customer base when selling loans
- The sale of loans has fallen, but branches are an important part of the
distribution of loans
- Borrowers tended to favor the same channel for loan applications and
arrangement
- New entrants into banking may have an impact on the popularity of
different distribution channels for loans
- The arrival of Tesco Bank could shake up the personal loans market
- Metro Bank is entering the retail banking market, placing a real
emphasis on service
- Virgin Money' s purchase of Church House Trust gave it a ' ready-made'
banking license
- Other retailers have also expressed some interest in developing a full
retail banking proposition
- Banks can use tricks from retailers to successfully improve their sales
through branches
- Lenders have looked to make their branches more exciting for consumers
- Banks have made further steps to improve the customer experience in
branches
- Banks and building societies appreciate the importance of bank networks
despite the costs
- There has been a general decline in the number of bank branches
available for consumers
- Internet personal loan offerings continue to develop
- The online channel tends to encourage the arrangement of larger loans
- The online channel is more popular for unsecured rather than secured
personal loans
- HSBC' s Assisted Internet program aims to understand barriers to online
activity
- Security concerns remain for consumers considering using an online
distribution channel
- The banning of point-of-sale PPI will see lenders factoring in the lost
revenue into loan pricing
- Aggregators use different methods to generate revenue from loan
distribution
- The internet has encouraged innovation in the types of lending available
- The use of direct mail to distribute loans represents a declining part of
the market
- Various factors have combined to limit the popularity of direct mail as
a channel of arrangement
- Direct mail makes up the majority of unsecured personal lending
advertising expenditure
- Direct mail also plays a key role in advertising for secured personal
loans
- Direct mail allows lenders to cross-sell products
- Call centers remain an integral part of lenders' strategies
- The call center model provides both benefits and drawbacks
- Call centers may be used reactively and proactively to build up a
relationship with the customer
INTERMEDIARY LOAN DISTRIBUTION
- Intermediaries in the personal lending market focus on secured personal
loans
- Intermediaries remain stronger in the secured personal loan market
because of its small size and non-standard basis
- Four out of five intermediaries offer secured personal loans
- More intermediaries principally or solely offer secured personal loans
- Intermediaries are undecided as to whether lenders are currently
focusing more on direct lending
- Intermediaries tend to be pessimistic about their share of the market in
2010
- The personal loan market is beginning to recover, and Abbey is in the best
position to benefit from this
- Although brokers in the secured loan market have suffered, there have
been some signs of improvement
- Abbey and HBOS/Halifax are the most popular secured loan providers
- Abbey and HBOS/Halifax are also the most popular lenders for unsecured
personal loan intermediaries
- Commission levels have shown signs of decline, prompting intermediaries to
cut costs
- The majority of intermediaries have not witnessed a fall in their
average commission over the last year
- A greater proportion of intermediaries have seen a fall in secured loan
commission levels
- Intermediaries are most interested in cross-selling and commission
opportunities as methods to cope with the loss of income
- Intermediaries concentrate on pricing issues when deciding upon their
choice of lender
- Competitive pricing is the most important feature for intermediaries
when choosing a lender
- Better rates and a speedier service are the biggest factors in
persuading intermediaries to switch lender
- Intermediaries tend to agree that consumers will demand more credit and
lenders will accept more customers over the next 12 months
- The fallout from the credit crunch has resulted in the availability of
fewer loan products
- The median number of loans arranged by intermediaries was significantly
lower than in previous years
- The median broker lent £100,000 in loans
- Intermediaries tended to agree that the sub-prime sector had suffered
due to fewer players
- The consensus among intermediaries is that their overall level of
personal lending declined in 2009
- There is little optimism that individual brokers will increase their
lending level in 2010
- Intermediaries tended to show the greatest levels of concern about
commission and fees
- Intermediaries continue to face some tough challenges in maintaining their
customer base
- Intermediaries had some success maintaining their customer bases during
2009
- Intermediaries are having to turn business down because of the tough
conditions in the market
APPENDIX
- Supplementary data
- Overview of Personal Loan Distribution chapter
- Direct Loan Distribution chapter
- Intermediary Loan Distribution chapter
- Definitions
- Balances outstanding
- CAGR
- Fixed rate personal loan
- Gross advances
- Non-standard
- Online aggregator
- POS
- Secured personal loan
- Unsecured personal loan
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Proportion of intermediaries that believe lenders are focusing more
on direct distribution than intermediary distribution by size of customer base
- Table: Proportion of intermediaries that believe they are losing share of
new lending to direct distribution by opinion on change in size of customer
base over the last 12 months
- Table: Performance of secured and unsecured personal loans in 2009
compared to 2008
- Table: Gross advances for personal loans, 2004 to Q3 2009
- Table: Gross advances for secured and unsecured personal loans, 2004 to Q3
2009
- Table: Gross advances for secured and unsecured personal loans, 2009e to
2013f
- Table: Channel of arrangement: secured personal loan
- Table: Channel of arrangement: unsecured personal loan
- Table: Forecasts for unsecured personal loan distribution channels, 2009e
- 2013f
- Table: Forecasts for secured personal loan distribution channels, 2009e -
2013f
- Table: Channel of application for unsecured loan (vertical) by channel of
arrangement (horizontal)
- Table: Channel of application for secured loan (vertical) by channel of
arrangement (horizontal)
- Table: Number of bank branches in the UK, 2003 - 08
- Table: Total advertising revenue, unsecured personal loans, H1 2009
- Table: Total advertising revenue, secured personal loans, H1 2009
- Table: Products offered to consumers
- Table: Percentage of lending comprised of unsecured and secured loans
- Table: Focus of lenders in current market conditions
- Table: Current impact of direct distribution on intermediary share
- Table: Anticipated intermediary share in 2010 in comparison with 2009
- Table: Most common lenders used by intermediaries for secured personal
loans
- Table: Most common lenders used by intermediaries for unsecured personal
loans
- Table: Performance of average commission/fee for personal loans
- Table: Performance of fee/commission income over the last 12 months
- Table: Measures taken to deal with loss in income
- Table: Importance of features in choice of number one lender
- Table: Importance of factors in choosing new lender
- Table: Expectations for situation over the next 12 months
- Table: Agreement with statements about sub-prime personal loans
- Table: Change in value lent in past 12 months against previous 12 months
- Table: Expectations of change in total value lent over next 12 months
- Table: Level of concern regarding different factors facing intermediary
business
- Table: Change in customer base over last 12 months
- Table: Proportion of loan customers turned down due to difficulty finding
credit
FIGURES
- Figure: The decline in total personal lending began to pick up pace in
2006 despite the economic boom
- Figure: Competitive pricing and customers getting the advertised rate are
the most important factors in choice of lender for intermediaries
- Figure: The decline in total personal lending began to pick up pace in
2006 despite the economic boom
- Figure: Both secured and unsecured lending levels declined significantly
between 2006 and 2008
- Figure: Unsecured personal loans will begin to pick up in 2011 before the
recovery gains pace in 2012
- Figure: The secured personal loan market will begin to recover in 2011
although from a very low base
- Figure: The personal loan intermediary market has a straightforward
structure
- Figure: Visiting the lender is the most popular method of arranging
secured personal loans
- Figure: Going direct with the supplier via the internet is the most
popular channel of arrangement for unsecured personal loans
- Figure: The mix of unsecured loan channels is unlikely to change
significantly over the next few years
- Figure: The intermediary channel will begin to recover its share of
secured lending over the forecast period
- Figure: The majority of those who applied face-to-face or through the
internet arranged their unsecured loan the same way
- Figure: There is also a strong correlation between application and
arrangement for secured lending
- Figure: The incumbents in UK retail banking face an assault from various
new players across various channels
- Figure: The new HSBC branch in Reigate and Barclays flagship branch in
London show the future of bank branches
- Figure: The decline in the number of bank branches slowed between 2007 and
2008
- Figure: Wonga emphasizes speed and simplicity of its short term loan
products
- Figure: Unsecured lending advertising expenditure has fallen but is still
dominated by direct mail
- Figure: Secured advertising expenditure is much lower than unsecured but
also dominated by direct mail
- Figure: Personal loan intermediaries are more likely to offer secured loans
- Figure: Intermediaries tend to dedicate more of their business to secured
lending
- Figure: Only a small percentage of intermediaries feel that their market
share will grow in 2010
- Figure: Abbey and HBOS/Halifax are the most popular lenders for secured
loan intermediaries
- Figure: Abbey and HBOS/Halifax are also the most popular for unsecured
loan intermediaries
- Figure: More than one third of intermediaries have seen a fall in their
average commission or fees
- Figure: A greater proportion of intermediaries who offer the product have
seen a fall in secured rather than unsecured loan commission
- Figure: Cross-selling and cost reduction are key factors intermediaries
have introduced to deal with a loss in income
- Figure: Competitive pricing and customers getting the advertised rate are
the most important factors in choice of lender for intermediaries
- Figure: Better rates are the most important factor in encouraging
intermediaries to choose a new lender
- Figure: Almost two thirds of intermediaries feel that consumer demand for
credit will rise over the next 12 months
- Figure: The mean number of loans arranged by intermediaries was five, with
one provider arranging 2,500
- Figure: The majority of personal loan providers offered loans with a total
value of £200,000 or less
- Figure: Intermediaries tend to agree that sub-prime lending has shrunk
considerably
- Figure: More than half of the respondents believe that the overall amount
lent has fallen
- Figure: A large proportion of respondents feel that lending levels in 2010
will be the same as in 2009
- Figure: Commission and fees are the most pressing concerns for
intermediaries, although relationships with clients are also a concern
- Figure: Intermediaries tended to feel that their customer base had stayed
the same or fallen over the previous 12 months
- Figure: More than a third of intermediaries are turning down at least half
of their personal loan customers
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