Mortgage repayments set to rise for three million households
Around three million households are set to see their mortgage payments rise in the next two years, according to the Bank of England’s latest Financial Stability Report.
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Consumer finance new business grew by 9% in April 2024
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in April 2024 by 9% compared with the same month in 2023. In the first four months of 2024, new business in this market increased by 2% compared with the same period in 2023.
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Growth in disposable incomes slows
Sluggish economic growth and economic shocks including the financial crisis and the pandemic mean increases in disposable incomes have been ‘slowing to a crawl’ since 2010, according to the Resolution Foundation.
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Consumer confidence rises in May
Consumer confidence has risen to its highest level in over two years, according to GfK’s consumer confidence index. The index rose by two points to minus 17 in May, which is the highest reading since December 2021
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Second charge mortgage new business volumes grew by 5% in March 2024
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said:
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Consumer finance new business fell by 4% in March 2023
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 4% in March 2023 compared with the same month in 2022. In Q1 2023, new business was 2% lower than in Q1 2022.
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