The latest figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in November by 5%, compared with the same month in 2016.
Credit card and personal loan new business together grew by 3% compared with November 2016, while retail store and online credit new business increased by 13%. Second charge mortgage new business increased 3% by value and 2% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“Growth in retail store and online credit new business in November in part reflects the increase in retail sales reported by household goods stores following Black Friday and Cyber Monday events.
“The growth in consumer finance new business overall in November is in line with the performance of this market over the past twelve months.”Excel consumer finance summary
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