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Strong growth in consumer finance PDF Print E-mail
Thursday, 14 January 2016

New figures released today by the Finance & Leasing Association (FLA) show 17% growth in consumer finance new business in November 2015, compared with the same month in the previous year.

Retail store and online credit grew by 10% compared with November 2014, while credit card and personal loan new business together increased by 14%. Second charge mortgage new business was up 31% by value and 13% by volume over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The growth in new business in the run-up to Christmas reflects the strength of consumer confidence.

“New business growth in the twelve month period to November reported by FLA members held steady at 7% and, overall, the value of outstanding consumer credit in the UK at the end of November remained 14% below its 2008 peak.”

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