Consumer finance up 8% in April

10 June 2016

New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business up 8% in April, compared with the same month last year.

Credit card and personal loan new business together grew by 5% compared with April 2015, while retail store and online credit increased by 6% over the same period. By contrast, the second charge mortgage market reported a fall in new business in April of 19% by value and 28% by volume.

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

“April saw growth across most of the main consumer finance products as consumer confidence remained relatively high. The fall in second charge mortgage new business was not unexpected as this market is busy bedding in new systems following its move to the Financial Conduct Authority’s mortgage regime at the end of March.”

Table 1: New consumer credit lending


Apr 2016

% change on prev. year

3 months to Apr 2016

% change on prev. year

12 months to Apr 2016

% 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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