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Second mortgages up to £49m for March


Second mortgages up to £49m for March

Second mortgages are up £40 million year-on-year, with the latest FLA figures revealed taht second mortgages are up to £49 million for March.

Figures released today by the Finance & Leasing Association (FLA) show that new consumer finance grew by 19% in March, with second mortgages leading the charge.

Growth in new business extended beyond the point-of-sale market into credit card finance and personal loans, with an increase in these two sectors of 12% in March, and a 10% rise in Q1 this year.

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

“First quarter results show strong performances across the consumer finance sector.  Responsibly-provided credit has supported the economic recovery and will be an important factor in sustaining it as household incomes improve.”

Table 1: New consumer credit lending

 

 

Mar. 14

% change on prev. year

3 months to Mar. 2014

% change on prev. year

12 months to Mar.  2014

% change on prev. year

Total FLA consumer finance (£m)

7,410

+19

18,006

+17

69,117

+10

 

 

 

 

 

 

 

Data extracts:

 

 

 

 

 

 

Retail store and online credit (£m)

510

+11

1,431

+14

6,033

+6

Credit cards & personal loans (£m)

3,154

+12

9,108

+10

36,917

+3

Second mortgages (£m)

49

+40

137

+47

489

+42

Car finance (£m)

3,352

+29

6,490

+29

22,269

+27





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