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Time: 0:0

Ryan Fowler

New consumer finance business up 9%

05 November, 2015

By: Ryan Fowler

category: Commercial, Features, Residential

1

The amount of new consumer finance business grew by 9% in September, according to figures from the Finance & Leasing Association.

Second charge mortgage new business increased 22% by value in September, while the number of new second charge mortgages fell by 7% over the same period.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “September saw growth across all of the main finance products as consumer confidence remained relatively strong.

“Consumer finance new business provided by FLA members grew by 7% in the first nine months of 2015, in line with our expectations for growth in UK new consumer credit in 2015 as a whole.”

Retail store and online credit grew by 4% compared with September 2014, while credit card and personal loan new business together increased by 4% over the same period.


Tags: FLA

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