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Consumer finance up 3% in September PDF Print E-mail
Thursday, 09 November 2017
New figures released today by the Finance & Leasing Association (FLA) show growth of 3% in consumer finance new business in September, compared with the same month last year. In Q3 2017, new business grew by 6% compared with the same quarter in 2016.  

In September, credit card and personal loan new business together grew by 3% compared with the same month in 2016, while retail store and online credit new business increased by 6%. The value of second charge mortgage new business was similar to September 2016, while new business volumes fell by 2% over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “September saw consumer finance new business grow at its slowest rate since April. With consumer confidence subdued, UK new consumer credit is expected to grow by 3.3% in 2017 as a whole, down from 6.3% in 2016.”
 

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