6 April 2018
Commenting on the February 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market reported growth in February, with new business up 4% by value and 9% by volume, compared with the same period in 2017.
“February saw an increase in the number of customers taking out a secured loan, which are often used to fund home improvements or deposits on a second property.”
Table 1: New second charge mortgage lending
Feb 2018
% change on prev. year
3 months to Feb 2018
% change on prev. year
12 months to Feb 2018
% change on prev. year
Value of new business (£m)
81
+4
233
+5
1,032
+17
Number of new agreements (No.)
1,742
+9
4,971
+7
22,270
+14
Note to editors:
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.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.
Category: News Type
CFAO and Michelin team-up to market high-quality tires in Kenya and Uganda
Cette nouvelle entité opérera sur les deux pays, qui totalisent plus de 90 millions d’habitants, distribuant des pneumatiques pour véhicules légers et camionnettes ainsi que des pneus poids lourds, deux-roues, génie civil et agricoles. Michelin souhaite accélérer la distribution de ses pneumatiques haut de gamme à la longévité et à la résistance éprouvées en saisissant… Continue reading CFAO and Michelin team-up to market high-quality tires in Kenya and Uganda
Michelin and Fenner announced a recommended cash offer for all shares of Fenner PLC
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12 hours of Sebring – MICHELIN “cool” tires beat the heat
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Michelin solutions’ App, MyBestRoute, wins the SITL Technology and Information Systems Innovation Award
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Formula-E 2017/2018 – Paris – Home glory for Jean-Eric Vergne (Techeetah) and Michelin at Paris E-Prix!
. Installé en tête du peloton lors du départ, Jean-Eric Vergne a solidement défendu sa position face aux attaques de Sam Bird (DS-Virgin Racing), lui-même pris en chasse par André Lotterer (Techeetah). Le tiercé a creusé l’écart durant la première phase de la course, pour reprendre la piste dans le même ordre après le changement… Continue reading Formula-E 2017/2018 – Paris – Home glory for Jean-Eric Vergne (Techeetah) and Michelin at Paris E-Prix!
Second charge mortgage new business volumes grow in January
21 March 2018
Commenting on the January 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market reported growth in January, with new business up 8% by value and 13% by volume compared with the same period in 2017.
“The sector is continuing its work in ensuring that the new regulatory regime is fully implemented.”
Table 1: New second charge mortgage lending
Jan 2018
% change on prev. year
3 months to Jan 2018
% change on prev. year
12 months to Jan 2018
% change on prev. year
Value of new business (£m)
76
+8
234
+5
1,029
+16
Number of new agreements (No.)
1,645
+13
5,118
+5
22,130
+12
Note to editors:
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.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.
Consumer finance new business up in January
21 March 2018
New figures released today by the Finance & Leasing Association (FLA) show growth of 12% in consumer finance new business in January, compared with the same month last year.
Credit card and personal loan new business together grew by 12% compared with January 2017, while retail store and online credit new business increased by 13% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The performance of the consumer finance market in January reflects a resilient household sector. Despite the squeeze on real earnings from higher inflation, consumer confidence about the outlook for their own finances and spending has held up. The labour market remains robust, with record levels of employment and a pick-up in earnings growth.”
Table 1: New consumer credit lending
Jan 2018
% change on prev. year
3 months to Jan 2018
% change on prev. year
12 months to Jan 2018
% change on prev. year
Total FLA consumer finance (£m)
8,212
+12
24,256
+6
97,176
+6
Data extracts:
Retail store and online credit (£m)
677
+13
2,802
+14
9,069
+9
Credit cards & personal loans (£m)
4,442
+12
12,897
+5
48,391
+6
Second charge mortgages (£m)
76
+8
234
+5
1,029
+16
Car finance (£m)
2,711
+13
7,471
+6
34,537
+6
Note to editors:
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.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.
Asset finance market kicks off 2018 with new business growth
21 March 2018
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 4% in January, compared with the same month last year. Including high value deals, new business increased by 3% over the same period.
The plant and machinery finance and business equipment finance sectors each reported new business up in January by 8% compared with the same month in 2017, while new finance for commercial vehicles fell by 4% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance market made a positive start to 2018 with further solid growth in new finance for plant and machinery and business equipment. In particular, new business for agricultural equipment in January was 21% higher than in the same month in 2017.
“We expect asset finance new business growth in 2018 as a whole to be at a similar rate to 2017.”
Jan 2018
% change on prev. year
3 months to Jan
2018
% change on prev. year
12 months to Jan
2018
% change on prev. year
Total FLA asset finance (£m)
2,337
+3
7,523
+3
31,842
+5
Total excluding high value (£m)
2,131
+4
6,926
+2
30,038
+6
Data Extracts:
By asset:
Plant and machinery finance (£m)
509
+8
1,520
+4
6,654
+11
Commercial vehicle finance (£m)
480
-4
1,748
-4
7,462
0
IT equipment finance (£m)
133
+29
663
+14
2,315
+3
Business equipment finance (£m)
191
+8
633
+5
2,596
+7
Car finance (£m)
608
-2
1,928
-2
9,493
+4
Aircraft, ships and rolling stock finance (£m)
28
-14
71
-36
545
+24
By channel:
Direct finance (£m)
1,066
0
3,326
-3
15,047
+3
Broker-introduced finance (£m)
442
+8
1,444
+12
5,690
+11
Sales finance (£m)
622
+10
2,155
+3
9,301
+7
By product:
Finance leasing (£m)
246
0
939
-1
3,809
+6
Operating leasing (£m)
425
-2
1,519
-3
6,744
+1
Lease/Hire purchase (£m)
1,166
0
3,763
0
16,907
+6
Other finance (£m)
359
+10
826
+7
3,313
-3
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £32 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.