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Loans news - the latest reports from our industry watchers

Read our news items below to stay in touch with developments in the loans marketplace. We cover things like:

• interest rate changes
• consumer behaviour
• special offers on loans
• loans companies
• helpful advice

All Change at some loans companies

Dramatic changes are afoot in the UK loans industry, with various factors pulling the industry in all directions and certain to bring about dramatic and long-lasting changes to the marketplace. Worldwide restrictions on global credit markets have made the funding typically used to fuel the sub-prime lending sectors become more scarce and more expensive. Also investors providing the cash for the sub-prime credit sector have become more cautious, meaning that not only have these loans become more expensive, but they have also become stricter in terms of their acceptance criteria. Another important factor has been the recent spotlight cast by the FSA on the selling of payment protection schemes. These insurance products, typically sold alongside loans, have been a source of significant revenue for brokers and lenders and any reduction in the profitability of this part of the loans market is sure to cause significant worries for businesses operating exclusively in the sector.

Christmas Shopping Online

This year 70% of internet users in the UK will buy presents online, according to an internet research company. The annual Christmas Shopping Online survey, carried out by Nielsen Net Ratings, shows that on average £237 will be spent online, compared to £197 on the high street. Brand names from well know retailers are likely to benefit the most from this trend. 40% of customers will buy from such well established companies.

Women are particularly attracted to the convenience of internet shopping. They will spend more than men for the first time this year and are 3 times more likely to buy a gift online. The survey also shows that consumers in the 35-44 age group will spend the highest proportion of their Christmas budget online. Internet users in the South-West will spend more per head than in the rest of the UK.

When it comes to food shopping Tesco will dominate with 40% of those questioned expecting to use their online delivery service. Asda will follow on 19% with Sainsburys on 15%.

Although internet shopping is popular, the survey also shows that over 45% of users still have worries about the security of their credit and debit cards in online transactions.

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