Consumer finance up 8% in 2015

5 February 2016

New figures released today by the Finance & Leasing Association (FLA) show 8% growth in consumer finance new business in December 2015, compared with the same month in the previous year, and growth of 8% in 2015 overall.

Credit card and personal loan new business grew by 5% in December and by 4% in 2015 as a whole. The second charge mortgage market reported new business up 43% by value and 19% by volume in December, and growth of 34% by value and 9% by volume in 2015 overall.

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

“The growth in consumer finance new business in 2015 was in line with expectations. It reflects continued consumer confidence and the ability of member firms to provide credit responsibly, while adapting to the rapid pace of regulatory change following the introduction of the Financial Conduct Authority’s new consumer credit regime.

“We expect further single-digit new business growth in 2016.”

Table 1: New consumer credit lending


Dec 2015

% change on prev. year

3 months to Dec 2015

% change on prev. year

12 months to Dec 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 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.

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