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FLA report shows 57% increase in secured lending


FLA report shows 57% increase in secured lending

Figures released today by the Finance & Leasing Association (FLA) show second mortgages hit £44 million for February, a 57 per cent increase on last year’s figures.

The second charge mortgage market reported new business up 57 per cent by value and 32 per cent by volume in February.

Commenting, Fiona Hoyle, Head of Consumer Finance at the FLA, said: “On 1 April, the Financial Conduct Authority began supervising an additional 50,000 consumer credit firms. The challenge now is to get them through the authorisation process within a sensible timescale  so that the supply of responsibly-provided credit can be maintained.” 

Table: New consumer credit lending in February;

 

Feb. 14

% change on prev. year

3 months to Feb. 2014

% change on prev. year

12 months to Feb.  2014

% change on prev. year

Total FLA consumer finance (£m)

4,979

+14

16,422

+15

67,413

+8

 

 

 

 

 

 

 

Data extracts:

 

 

 

 

 

 

Retail store and online credit (£m)

439

+12

1,652

+12

5,981

+5

Credit cards & personal loans (£m)

2,798

+9

9,347

+9

36,108

0

Second mortgages (£m)

44

+57

125

+54

475

+41

Car finance (£m)

1,455

+27

4,580

+30

21,492

+25



 




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