Today: Last Update:


Do you expect to see less or more second charge mortgage lenders in 2018?

FLA members complete £398m

FLA members complete £398m

The latest figures from the Finance & Leasing Association (FLA) have shown that FLA members’ secured lending increased by 13 per cent on last year’s figures.

In the 12 months up to August 2013 FLA members lent a total of £398 million, which represents a 15 per cent growth on the previous 12 month period.

In August 2013, £35 million was lent in second mortgages by FLA members, a growth of 13 per cent on the amount lent in August 2012.

On a quarterly basis the increase of second charge mortgage lending was even higher at 31 per cent higher in the third quarter when £114 million was lent.

The latest figures released show growth of 6 per cent in consumer finance provided by FLA members in August.

Point-of-sale car finance saw continued growth, with new business increasing by a quarter to almost £1.4 billion compared with the same month in 2012. Growth in store instalment credit slowed in August, but new business was still 2 per cent higher than in the same month a year earlier, at £203 million.  Second charge mortgage new business grew 13 per cent by value to £35 million and 7 per cent by volume to 1,168.

Fiona Hoyle, Head of Consumer Finance at the FLA, said: “Improved confidence about the outlook for the economy has been one of the factors contributing to the rise in second charge mortgage lending. However this growth needs to be seen in context, as it is from a low base compared to the market pre-2008.”






Table 1: New consumer credit lending


Aug 13

% change on prev. year

3 months to Aug 2013

% change on prev. year

12 months to Aug  2013

% change on prev. year

Total FLA consumer finance (£m)







Data extracts:







Store cards (£m)







Credit cards & personal loans (£m)







Store instalment credit (£m)







Second mortgages (£m)







Car finance (£m)







Fiona added: “Our latest figures illustrate the continued growth in point-of-sale finance and its importance for consumers.

“In light of the new regulatory proposals published by the Financial Conduct Authority, our main task will be to work with the regulator to ensure that the supply of responsibly-provided credit is maintained.”

By Jason McGee-Abe

I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.