Category: News Type

10 May
New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2018 was 46, up from 25 in the first quarter of 2017.
The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.09% in the twelve months to March 2018.
Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said:
“The increase in second charge mortgage repossessions in the first quarter of 2018 was from a low base. We expect the number of repossessions in this market to remain low in 2018 as a whole.
“As always, any customer worried about making payments should speak to their lender, because the sooner contact is made, the easier it is to find a solution.”
Table 1: The number of actual properties taken into possession by FLA second charge mortgage providers1
Time period
Number of possessions in the quarter
% change on the same quarter in the previous year
Annual total
% change on the previous year
2008 Total
2009 Total
2010 Total
2011 Total
2012 Total
2013 Total
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
Q4 2017
Q1 2018
128
133
107
79
72
67
56
33
34
40
31
39
25
39
34
38
46
-43.4%
-27.3%
-25.7%
-35.8%
-43.8%
-49.6%
-47.7%
-58.2%
-52.8%
-40.3%
-44.6%
18.2%
-26.5%
-2.5%
9.7%
-2.6%
84.0%
1,612
1,467
864
827
6282
676
447
228
144
136
-9.0%
-41.1%
-4.3%
-24.1%2
7.6%2
-33.9%
-49.0%
-36.8%
-4.9%
Possession proceedings arising from FLA members’ second charge mortgage books, which have led to actual possession by the second mortgage provider.There were changes to the sample in Q1 2012 and Q1 2013 due to changes in FLA membership.Figures for 2017 have been revised since the previous issue.

11 May 2018
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in March was at a similar level to that reported in March 2017, and grew 6% in Q1 2018 as a whole.
Credit card and personal loan new business together grew in March by 7%, compared with the same month in the previous year, while retail store and online credit new business increased by 4%. The point of sale finance sector reported a fall in new business in March of 6% compared with the same month in 2017.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest consumer finance new business figures were in line with recent trends in the wider economy, with household spending likely to have been adversely affected by poor weather conditions. FLA consumer finance providers’ penetration of the UK new consumer credit market held steady in the twelve months to March 2018 at 35.6%.”
Table 1: New consumer credit lending
Mar 2018
% change on prev. year
3 months to Mar 2018
% change on prev. year
12 months to Mar 2018
% change on prev. year
Total FLA consumer finance (£m)
10,381
0
25,786
+6
97,820
+6
Data extracts:
Retail store and online credit (£m)
719
+4
2,022
+8
9,136
+9
Credit cards & personal loans (£m)
4,357
+7
12,664
+10
49,010
+7
Second charge mortgages (£m)
86
-10
244
0
1,023
+15
Car finance (£m)
4,849
-5
9,894
+3
34,522
+4
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.