New figures released by the Finance & Leasing Association (FLA) show 12% growth in consumer finance lending in September, against the same month last year.
The FLA’s share of the UK consumer credit market increased to 34% in the twelve months to September 2014.
Credit cards and personal loans new business together grew by 6% compared with September 2013. Retail store and online credit was up by 8% in the same period, and point-of-sale finance was up by 18%. Second charge mortgage new business grew 41% by value and 17% by volume.
Commenting on the figures, Geraldine Kilkelly, head of research and chief economist at the FLA, said: “FLA members offer a variety of finance products to help consumers make essential household purchases. The September figures show new business growing across the board, and consistently strong growth in the point-of-sale credit markets.”
