As with other facets of the finance market, the personal loan market in Ireland was hugely disrupted by the 2008 financial crisis and subsequent economic downturn. Aside from the sharp decline in the number of suppliers, lending criteria were severely tightened as lenders sought to protect themselves from defaults and bad debts. Only those consumers with strong credit histories and in secure employment now qualify for personal loans, while most banks are also restricting lending to existing customers. Ultimately, there has been a dramatic decline in the supply and availability of unsecured loans.

Drawing on a range of industry and consumer research, this report assesses the factors impacting upon and shaping the personal loans market in Ireland. It also looks at the size of the market – and how this has changed in recent years. It also analyses ownership of loans among Irish consumers, including an analysis of the characteristics and nature of these loans. It looks, too, at the channels to the market – how consumers apply for and arrange personal loans. Finally, it analyses consumers' attitudes towards loans, borrowing and debt.

Some questions answered in this report include:

How has the structure of the market changed in recent years?

What effect has tighter lending criteria had on availability of credit?

What impact have economic challenges had on supply and demand?

What are the main channels to market?

What level of loan ownership exists among Irish consumers?

Why do Irish consumers take out personal loans?

What are Irish consumers' general attitudes towards borrowing and debt?