View more on these topics

Datamonitor report says secured lending is set to calm

Datamonitor, the independent market analyst, has revealed that secured lending in the UK is set to calm over the next five years.

Maya Imberg, financial services analyst at Datamonitor, says: “As the UKs housing market slows to a soft landing, the rapid growth rates the secured lending market has enjoyed over the last five years are set to cool.”

From 2005 to 200, Datamonitor predicts gross advances to grow at an average of just 5.3% a year, to reach 35.4bn in 2009, compared to the growth of 50% a year over the last five years.

Datamonitor found that last year gross advances for secured personal loans and further advances amounted to 32.6bn, up from 28.1bn in 2003.

Datamonitor also predicts that as more mainstream lenders become involved, smaller specialist lenders will find it more difficult to compete on equal terms.

Recommended

Britannia to cut SVR

Britannia is cutting its Standard Variable Rate with effect from October 1 2005. Britains second largest mutual is reducing its current 6.35% SVR by 25 basis points. The 6.10% SVR will be available for new and existing borrowers. Tim Franklin, managing director of member business, says: “The reduction will result in savings for our members. […]

Barnetts hits 300 jobs target

Barnetts Solictors has reached a key milestone in the practice’s history and hit its 300 staff target. Joe Whelan, chief executive of Barnetts, says: “This is a fantastic achievement for Barnetts. It was an objective we set five years ago and we have achieved this four months ahead of schedule.“As a firm Barnetts has gone […]

Dear Delia

Dear Delia My client has recently divorced and needs to raise 40% of the equity of the marital home valued at 190,000 to buy out her husband. Her main job provides an income of 11.800 and she has a supplementary income of 2.600. She gets 3,600 a year in maintenance and tax credits of £7200 […]

Small brokers should get this system to boost their admin

From Lee Martin I would like to share a secret with the small brokers out there who struggle to keep up with admin. I use a case management system which not only allows me to monitor the source of my business and helps with the decisions about where I spend money, but also allows me […]

Tackling the housing crisis will take more than money

The latest housebuilding figures from the Department for Communities & Local Government confirm the worst fears of many within the property industry. We are failing to address the housing shortage in any meaningful way. Let’s look at the number of housing ‘starts’, new housing projects where work has begun. In England, work has been started […]

Newsletter

News and expert analysis straight to your inbox

Sign up