The latest consumer research findings from IRN Research show that a clear majority of claim pay-outs – 65% – are up to £5,000, and these would fall under the new small claims limit set to be introduced in 2020. However, only 20% of survey respondents would be happy to take on a claim on their own through the small claims court. In particular, if individuals...
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UK Pension Market, a £190 billion market The UK pension market is large and diverse, with over 22 million employees in the UK having a workplace pension with most of these (around 16 million) enrolled in an occupational scheme. In 2017, over 2 million new pension products were sold to members of the public and UK pension funds received total contributions of almost £190 billion,...
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The UK Personal Injury Market Report 2018 is the fifth edition of an annual market report from IRN Research and provides an overview of the UK personal injury and clinical negligence markets. The personal injury market is a large market, worth almost £4bn annually, but it is struggling to generate any real growth: The new legislation set for April 2020 (increasing small claim limit for...
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Home owner mortgage market shows strong growth in 2017 but the outlook is subdued Existing home owners borrowed a total of just under £180 billion in 2017 secured on their homes. The amount borrowed rose by almost 11% in 2017, mainly reflecting a sharp rise in remortgaging and lifetime mortgage activity, with the number of mortgages advances growing by almost 9%. Prospects for home owner...
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Buy to let mortgage market hit by legislative changes IRN Research publish a new report on the Buy to let (BTL) mortgage market. The recent legislative changes aimed at restricting the activities of BTL Landlords are now having a negative impact on the BTL mortgage market, with new home purchases by BTL landlords having slowed significantly. In 2017, the value of new BTL advances fell...
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First Time Buyers Mortgage market continues to grow In 2017, the First Time Buyers mortgages market rose by almost 6% in volume terms and around 7% in value terms. This followed on from very rapid growth in 2016, when the number of mortgages arranged rose by around 9% and the value of money borrowed rose by around 14%. The First Time Buyers Market Trends Report...
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The UK Conveyancing Market Briefing 2018 is the latest in a series of annual reports providing an overview of the UK conveyancing market which has witnessed a period of fluctuating trends in the last few years. The annual number of property transactions (most of which represent residential transactions in England) has been on something of a roller coaster in recent years and this is reflected...
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IRN Publish the UK Ferry Market 2017 report In 2017, the UK Ferry Market had mixed fortunes. While the number of cars journeys grew, passenger numbers and the number of coach trips declined. Continental passengers down, but domestic and Ireland up Total passengers on 75 ferry routes were down by less than 1% overall compared with the previous year, with the decline centred on the...
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STEADY GROWTH BUT INCREASED COMPETITION MEANS LAW FIRMS WILL HAVE TO BE MORE FLEXIBLE AND MARKET-SAVVY The UK Business Legal Services Market Report is the second edition of an annual Legal Market Report from IRN Research and provides an overview of the market and its core market segments. New content this year includes: A survey of 180 UK businesses (90 large/90 SME) on use...
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Medico-Legal and Insurance Services market top £700 million The UK Medico-Legal and Insurance Market (MLIS) is valued at over £700 million in terms of revenue and grew in 2017 by 6%, compared with 13% in 2016. While the market continues to expand, it is being put under more pressure by official moves to cut the number of low value personal injury cases, which has, for...
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