Consumer finance up 11% in June

6 August 2015

New figures released today by the Finance & Leasing Association (FLA) show an 11% rise in consumer finance new business in June, compared with the same month last year, and 7% growth in Q2 2015 overall.

Retail store and online credit grew by 5% in June compared with the same month in 2014. The value of second charge mortgage new business grew by 31% in June, while the number of new mortgages increased by 7% compared with June 2014. The average second charge mortgage advance in June was around £38,000.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“June saw stronger growth across the main product lines as consumers used responsibly-provided credit to support essential household purchases. New consumer credit provided by FLA members grew by 6% in the first half of 2015 compared with the same period in 2014, which was broadly in line with growth in the overall UK market.”

Table 1: New consumer credit lending


Jun 2015

% change on prev. year

3 months to Jun 2015

% change on prev. year

12 months to Jun 2015

% change on prev. year

Total FLA consumer finance (£m)









Data extracts:


Retail store and online credit (£m)







Credit cards & personal loans (£m)







Second charge mortgages (£m)







Car finance (£m)







 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 2014, FLA members provided £100 billion of new finance to UK businesses and households. £74 billion of this was in the form of consumer credit representing almost a third of total new consumer credit written in the UK last year.

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