The consumer lending sector in the Netherlands is currently witnessing a significant slowdown in growth, particularly in gross lending for the year 2023. This deceleration can be attributed to increasingly stringent lending criteria.
Lending institutions are adapting their standards due to the influence of inflation and the rising cost of living. Notably, consumer credit is undergoing adjustments, with lenders striving to ensure that customers do not accumulate unmanageable debt.
Over the past year, the mortgage interest rate has witnessed an increase, coinciding with a decline in house prices. This has resulted in a reduced risk of homeowners defaulting on their mortgages.
The introduction of Buy Now Pay Later (BNPL) schemes has significantly impacted the consumer lending landscape. The BNPL model is experiencing remarkable growth, primarily due to its high level of convenience and the absence of traditional credit checks.
The trajectory of consumer lending in the Netherlands is influenced by several pivotal factors. Banks are embracing stricter lending criteria, aligning with policymakers' goals to safeguard consumers from excessive debt.
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Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
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