Asset Finance


Consumer Finance


Motor Finance


Consumer finance up 11% in March

13 May 2016

New figures released today 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.”

Table 1: New consumer credit lending

Mar 2016

% change on prev. year

3 months to Mar 2016

% change on prev. year

12 months to Mar 2016

% change on prev. year

Total FLA consumer finance (£m)

9,204

+11

22,113

+14

83,582

+10

 

Data extracts:

Retail store and online credit (£m)

524

0

1,502

+2

6,581

+3

Credit cards & personal loans (£m)

3,809

+9

10,979

+13

42,656

+7

Second charge mortgages (£m)

86

+16

241

+29

898

+33

Car finance (£m)

4,404

+14

8,459

+17

29,569

+16

Note to editors:

  1. FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
  1. In 2015, FLA members provided £110 billion of new finance to UK businesses and households. £81 billion of this was in the form of consumer credit representing almost a third of total new consumer credit written in the UK in 2015.