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Consumer finance up 11% in June PDF Print E-mail
Thursday, 06 August 2015

New figures released today by the Finance & Leasing Association (FLA) show an 11% rise in consumer finance new business in June, compared with the same month last year, and 7% growth in Q2 2015 overall.

Retail store and online credit grew by 5% in June compared with the same month in 2014. The value of second charge mortgage new business grew by 31% in June, while the number of new mortgages increased by 7% compared with June 2014. The average second charge mortgage advance in June was around £38,000.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“June saw stronger growth across the main product lines as consumers used responsibly-provided credit to support essential household purchases. New consumer credit provided by FLA members grew by 6% in the first half of 2015 compared with the same period in 2014, which was broadly in line with growth in the overall UK market.”

(Source - FLA News Release)  

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