What types of consumer credit do FLA members offer?

FLA members offer a wide variety of consumer credit including:

• Secured Loans are personal loans that are secured against a customer’s assets, for example, a second charge mortgage. The benefit of secured finance for customers is that, because of the reduced risks, lenders are able to offer more flexible terms and conditions.
• Unsecured loans are personal loans where the lender does not have any rights over their customer’s assets. These loans include bank overdrafts, store cards and credit cards.
• Credit cards and store cards offer consumers a very flexible and convenient way of accessing credit, with the option to pay the lender back immediately or over time.
• Store instalment credit is typically used to purchase electrical goods, furniture and furnishings. Payments are usually monthly, and may be interest free or offer a buy now, pay later option.