Trends in the high-cost short-term credit market – January 2019
Regulatory Updates | 24/01/19
We have published new data on insights and trends in the high-cost short-term credit (HCSTC, also known as ‘payday lending’) market.
Lending volumes in the market remain well below the levels seen in 2013, but have risen since 2016. Over 5.4 million loans were made in the year to 30 June 2018, with 10 firms accounting for around 85% of new loans. The costs of borrowing are lower than before the price-cap and have been stable since – on average, borrowers are due to repay 1.65 times the amount they borrow.