Consumer finance new business up by 2% in November

New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017.

Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second charge mortgage new business increased 21% by value and volume over the same period.

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

“The consumer finance market reported modest growth in November reflecting subdued consumer confidence in the run up to Christmas.

 “The latest figures suggest single-digit new business growth in 2018 as a whole.”

 

Source: FLA

  • Michelle Kerwin
  • Consumer, Finance, Credit, Loan
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