The latest figures released by the Finance & Leasing Association (FLA) show growth of 11% in consumer finance new business in March, compared with the same month last year, and growth of 14% in Q1 2016 overall.
Credit card and personal loan new business together grew by 9% compared with March 2015, while the second charge mortgage market saw new business grow 16% by value but fall 1% by volume over the same period.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“These figures show a solid performance by the consumer finance market in March and the first quarter of 2016 as a whole. They reflect the continued strength of consumer confidence despite uncertainty about the near-term outlook for the economy.”Excel consumer finance summary
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