As of late October 2024, most of the outstanding consumer lending in the United Kingdom (UK) were overdrafts, as well as loans and advances other than credit cards. Consumer credit peaked in February 2020, but dropped sharply two months later before slowly starting to recover again. The category other, which includes overdrafts and other loans and advances made up most of the outstanding credit. Meanwhile, credit cards amounted to approximately a third of the outstanding consumer loans. Nevertheless, credit cards made up most of the new monthly consumer lending in the UK. A likely reason for this discrepancy is that credit card debt tends to be paid in a shorter term than other types of credit.

The 'BoE Consumer Credit' report in the UK measures the change in the total value of new credit issued to consumers, including credit card debt and personal loans.

The 'BoE Consumer Credit' report in the UK measures the change in the total value of new credit issued to consumers, including credit card debt and personal loans.-2026-01-05

Consumer Credit in the United Kingdom decreased to 1119 GBP Million in October from 1398 GBP Million in September of 2025. This dataset provides the latest reported value for - United Kingdom Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Daily, weekly and monthly data showing seasonally adjusted and non-seasonally adjusted UK spending using debit and credit cards. These are official statistics in development. Source: CHAPS, Bank of England.

Over the five years through 2025-26, Credit Bureaux and Rating Agencies’ revenue growth is slated to grow at a compound annual rate of 0.9% to £3 billion. The industry has had to navigate a changing environment with the Bank of England raising interest rates over the two years through 2023-24, a sharp contrast to the ultra-low levels seen over the decade previously. The past five years have been turbulent, with weak economic conditions impeding revenue. Low confidence and the high interest rate environment have meant there’s been less borrowing across the economy over the past few years, resulting in a drop in demand for the services credit rating agencies provide. M&A activity has also left much to be desired, with the divergence between buying and selling prices denting exit volumes in 2023-24. Despite conditions remaining bleak as inflation proves sticky and rates come down slower than expected, lending activity is positioned for a modest recovery over the two years through 2025-26. Increasingly favourable economic conditions, interest rate cuts and an upturn in deal-making are expected to stimulate borrowing. This will feed through to higher demand for credit rating services, as lenders require credit checks prior to approving loans, contributing revenue growth of 4.6% in 2025-26. Over the five years through 2030-31, revenue is forecast to expand at a compound annual rate of 3.8% to reach £3.7 billion. Mounting demand for ESG rating services, which have been brought in by a number of major rating agencies, will be a key driver of this growth. Larger players like Moody’s and Fitch will continue to leverage their extensive data and model credit risk more accurately. Credit rating agencies will also navigate an evolving regulatory environment, most notably the introduction of the Basel III reforms in January 2027, reducing the risk margin and aiding lending activity.

European Union BLS: HP: Debt Refinancing: Somewhat Lower data was reported at 0.000 % in Apr 2025. This stayed constant from the previous number of 0.000 % for Jan 2025. European Union BLS: HP: Debt Refinancing: Somewhat Lower data is updated quarterly, averaging 1.397 % from Apr 2015 (Median) to Apr 2025, with 41 observations. The data reached an all-time high of 7.547 % in Jan 2023 and a record low of 0.000 % in Apr 2025. European Union BLS: HP: Debt Refinancing: Somewhat Lower data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.KB020: European Central Bank: Bank Lending Survey: Factor Affecting Demand for Loans to Household.

Key information about United Kingdom Foreign Exchange Reserves: Months of Import

• United Kingdom Foreign Exchange Reserves equaled 1.7 Months of Import in Dec 2024, compared with the ratio of 1.5 in the previous month
• UK Foreign Exchange Reserves: Months of Import data is updated monthly, available from Jul 1999 to Dec 2024
• The data reached an all-time high of 3.9 in May 2020 and a record low of 0.7 in Jul 2008

CEIC calculates Foreign Exchange Reserves as Months of Import from monthly Foreign Exchange Reserves and monthly Imports. Foreign Exchange Reserves is calculated as the sum of Foreign Currency Reserves and Other Reserve Assets, which include other financial instruments denominated in foreign currency. The Bank of England provides Foreign Exchange Reserves in USD. UK Trade Info provides Imports in local currency. Federal Reserve Board average market exchange rate is used for currency conversions. Foreign Exchange Reserves excludes Bank of England Foreign Exchange Reserves, as they are not considered part of UK Official Reserve Assets. However, Bank of England foreign currency assets may be used in case of foreign exchange intervention for monetary policy objectives.


Further information about United Kingdom Foreign Exchange Reserves: Months of Import

• In the latest reports, UK Foreign Exchange Reserves was measured at 112.5 USD bn in Jan 2025
• Its Money Supply M2 increased 2.2 % YoY in Dec 2024
• UK Domestic Credit reached 4,866.2 USD bn in Dec 2024, representing an drop of 1.3 % YoY
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year
• Household Debt of UK reached 3,076.4 USD bn in Sep 2024, accounting for 81.6 % of the country's Nominal GDP

Long-Term-Debt Time Series for Barclays PLC. Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK; Barclays UK Corporate Bank; Barclays Private Bank and Wealth Management; Barclays Investment Bank; and Barclays US Consumer Bank segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services, as well as lending products. In addition, the company engages in securities dealing activities and issuing of credit cards. The company was formerly known as Barclays Bank public limited company and changed its name to Barclays PLC in January 1985. Barclays PLC was founded in 1690 and is headquartered in London, the United Kingdom.

Key information about United Kingdom Foreign Exchange Reserves

• United Kingdom Foreign Exchange Reserves was measured at 113.8 USD bn in Feb 2025, compared with 112.5 USD bn in the previous month
• UK Foreign Exchange Reserves: USD mn data is updated monthly, available from Jul 1999 to Feb 2025
• The data reached an all-time high of 147.5 USD bn in Jan 2019 and a record low of 23.0 USD bn in Sep 1999

CEIC calculates Foreign Exchange Reserves as the sum of Foreign Currency Reserves and Other Reserve Assets, which include other financial instruments denominated in foreign currency and converts it into USD. The Bank of England provides Foreign Exchange Reserves in USD. Foreign Exchange Reserves excludes Bank of England Foreign Exchange Reserves, as they are not considered part of UK Official Reserve Assets. However, Bank of England foreign currency assets may be used in case of foreign exchange intervention for monetary policy objectives.


Further information about United Kingdom Foreign Exchange Reserves

• In the latest reports, UK Foreign Exchange Reserves equaled 1.7 Months of Import in Dec 2024.
• Its Money Supply M2 increased 3,878.3 USD bn YoY in Jan 2025.
• UK Domestic Credit reached 4,866.2 USD bn in Dec 2024, representing an drop of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year.
• Household Debt of UK reached 81.6 % in Sep 2024, accounting for 81.6 % of the country's Nominal GDP.

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Peer To Peer Lending Market Size 2024-2028

The peer to peer lending market size is forecast to increase by USD 754 billion at a CAGR of 39% between 2023 and 2028.

P2P lending has emerged as a disruptive financing alternative in financial services, offering several advantages over traditional banking methods. The market is driven by factors such as reduced operational costs for P2P lending companies and the increasing adoption of digital loans. 
However, the market also faces challenges, including security and fraud risks. The operational cost savings result from the elimination of intermediaries and automation of processes, leading to faster loan approvals and lower interest rates. The rise in digital adoption is fueled by the convenience and accessibility of P2P platforms, particularly among the millennial population. However, these benefits come with risks, such as the potential for fraudulent activities and data breaches, which require data security to mitigate.

What will be the Size of the Peer To Peer Lending Market During the Forecast Period?

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The peer-to-peer (P2P) lending market represents a non-traditional financing avenue that enables direct transactions between investors and borrowers, bypassing traditional financial intermediaries. This market's growth is driven by increasing internet penetration, investor appetite for alternative investment opportunities, and consumer demand for quicker and more accessible loan origination. P2P platforms offer consumer loans with flexible repayment terms and competitive interest rates, catering to various needs such as debt consolidation, medical expenses, and education. 

How is this Peer To Peer Lending Industry segmented and which is the largest segment?

The P2P lending industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Business Segment

  Traditional lending
  Marketplace lending


End-user

  Individual consumer
  Small businesses
  Large businesses
  Real estate


Loan Type

  Secured
  Unsecured


Purpose Type

  Repaying Bank Debt
  Credit Card Recycling
  Education
  Home Renovation
  Buying Car
  Family Celebration
  Others


Geography

  APAC

    China


  North America

    Canada
    US


  Europe

    UK


  South America



  Middle East and Africa

By Business Segment Insights

The traditional lending segment is estimated to witness significant growth during the forecast period. The global Peer-to-Peer (P2P) lending market experienced significant growth in 2023, with traditional P2P lending holding a substantial market share. This form of money lending, where platforms facilitate transactions between borrowers and investors, offers advantages such as high transparency, simple investment structures, and efficient debt collection. Increasing consumer and business demand for alternative lending options, driven by the need for funds, propels market expansion. Key sectors In the P2P lending landscape include consumer loans, business loans, inventory purchase, and loan structuring. P2P platforms enable loan transactions for various purposes, including debt consolidation, medical expenses, small businesses, microenterprises, student loans, green lending, and home improvement.

Market growth is influenced by factors like Internet penetration, investor appetite, and regulatory compliance. However, challenges persist, including regulatory uncertainties, platform fraud, and cybersecurity threats. To mitigate risks, platforms employ advanced technologies like machine learning for credit assessment, blockchain for transaction security, and mobile technologies for accessibility and platform efficiency. Innovative fintech solutions, such as artificial intelligence and structured environments, aim to streamline borrowing and provide quicker, more competitive loans. Borrower and lender trust are crucial in this market, with education initiatives and fraud prevention measures playing essential roles. The P2P lending market is poised for exponential growth, contributing to economic development.

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The Traditional lending segment was valued at USD 39.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Peer-to-Peer (P2P) lending market In the APAC region held a significant market share in 2023, driven by the increasing adoption of cl

Korea CSI: Present Debt of Household: Own data was reported at 101.000 Point in Jul 2018. This stayed constant from the previous number of 101.000 Point for Jun 2018. Korea CSI: Present Debt of Household: Own data is updated monthly, averaging 104.000 Point from Jul 2008 (Median) to Jul 2018, with 121 observations. The data reached an all-time high of 111.000 Point in Mar 2009 and a record low of 99.000 Point in Apr 2018. Korea CSI: Present Debt of Household: Own data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s Korea – Table KR.H030: Consumer Survey Index: The Bank of Korea: Consumer Sentiment Index.

Malaysia Household Sector: Debt data was reported at 1,139,900.000 MYR mn in 2017. This records an increase from the previous number of 1,086,100.000 MYR mn for 2016. Malaysia Household Sector: Debt data is updated yearly, averaging 555,150.000 MYR mn from Dec 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 1,139,900.000 MYR mn in 2017 and a record low of 243,201.000 MYR mn in 2002. Malaysia Household Sector: Debt data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KB038: Household Debt and Financial Assets. Household Represents liabilities that need to be repaid in the future, comprising of loans to purchase property and securities, and to finance consumption. Finance consumption=Loans for consumption comprise of motor vehicle loans, personal loans and credit card facilities.

Canada was one of three countries worldwide in 2021, where credit card ownership among consumers 15 years and up was over ** percent. This according to a major survey held once every three years in over 140 different countries. The results highlight the major differences in how countries prefer to pay: In Europe, for instance, the Nordics, Luxembourg, and the United Kingdom are regarded as top credit card countries, whereas the Netherlands ranked significantly lower than all these countries. Credit card usage Cardholders use their credit cards for billions of purchase transactions per year. Some do this to avoid carrying cash around, while others carry out transactions. Many also use credit cards because they do not have to pay immediately. While this can help with monthly cash flow issues, it can also lead to credit card debt that can take years to pay off. Regional differences in credit cards Some counties have a culture of credit card usage. For example, the leading credit card companies in the United States have issued hundreds of millions of credit cards, more than the number of U.S. citizens. Other countries do not have the culture of non-cash transactions. Overcoming this requires both an investment in payment infrastructure and putting people in the habit of using cards instead of cash.