Category: Trade Body Site

Second charge mortgage repossessions fall in Q2 2018

15 August 2018
New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2018 was 38, 2.6% lower than in the same quarter in 2017.
The annual rate of second charge mortgage repossessions (as a percentage of average outstanding agreements) in the twelve months to June 2018 was 0.09%.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest figures show that the number of second charge mortgage repossessions remained low in the second quarter, and market expectations are for this to continue in the second half of 2018.
“If a customer is concerned about meeting payments they should speak to their lender as soon as possible to find a solution.”
FLA Possessions
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
Q2 2018
128
133
107
79
72
67
56
33
34
40
31
39
25
39
34
38
46
38
-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%
-2.6%
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.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.

Second charge mortgage market reports modest fall in June

15 August 2018
Commenting on the June 2018 new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market reported new business volumes up in the first half of 2018 by 2%, compared with the same period in 2017. This was in line with stable new business volumes reported by the wider mortgage market over the same period.”
Table 1: New second charge mortgage lending
Jun 2018
% change on prev. year
3 months to Jun 2018
% change on prev. year
12 months to Jun 2018
% change on prev. year
Value of new business (£m)
91
-6
262
-2
1,019
+6
Number of new agreements (No.)
1,985
-3
5,703
+2
22,142
+5
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 up by 9% in June

15 August 2018
New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business grew in June by 9%, compared with the same month last year.
Credit card and personal loan new business together grew by 10% compared with June 2017, while retail store and online credit new business increased by 5%. Second charge mortgage new business fell 6% by value and 3% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest figures for consumer finance new business continued to reflect wider economic trends, with the World Cup and hot weather providing a further boost to retail sales.
“FLA members’ share of the UK consumer credit market held steady in the twelve months to June at 35.9%.”
Table 1: New consumer credit lending
Jun 2018
% change on prev. year
3 months to Jun 2018
% change on prev. year
12 months to Jun 2018
% change on prev. year
Total FLA consumer finance (£m)
8,691
+9
26,519
+14
101,120
+8
Data extracts:
Retail store and online credit (£m)
726
+5
2,213
+8
9,302
+10
Credit cards & personal loans (£m)
4,333
+10
13,431
+14
50,662
+9
Second charge mortgages (£m)
91
-6
262
-2
1,019
+6
Car finance (£m)
3,176
+10
9,524
+17
36,007
+8
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.

Modest fall in asset finance new business in June

15 August
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole.
The commercial vehicle finance and IT equipment finance sectors reported new business up by 9% and 15% respectively in the second quarter of 2018 compared with the same quarter in 2017. .
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance market reported new business up in the first half of 2018 by 1% compared with the same period a year earlier. This was in line with modest growth in UK business investment over the same period.”
Jun 2018
% change on prev. year
3 months to Jun
2018
% change on prev. year
12 months to Jun
2018
% change on prev. year
Total FLA asset finance (£m)
3,044
-3
8,709
+5
31,846
+1
Total excluding high value (£m)
2,869
-4
8,067
+3
30,023
+2
Data Extracts:
By asset:
Plant and machinery finance (£m)
622
-15
1,794
0
6,554
+2
Commercial vehicle finance (£m)
706
+2
2,039
+9
7,575
+1
IT equipment finance (£m)
326
+26
632
+15
2,401
+6
Business equipment finance (£m)
260
-8
670
-2
2,569
+2
Car finance (£m)
827
-10
2,586
0
9,353
+1
Aircraft, ships and rolling stock finance (£m)
39
+188
69
-76
230
-68
By channel:
Direct finance (£m)
1,428
-7
4,018
0
14,920
-1
Broker-introduced finance (£m)
519
+14
1,576
+13
5,903
+8
Sales finance (£m)
922
-6
2,473
+3
9,200
+3
By product:
Finance leasing (£m)
367
-4
1,006
+4
3,878
+4
Operating leasing (£m)
522
-19
1,475
-18
6,220
-9
Lease/Hire purchase (£m)
1,683
+6
4,957
+11
17,370
+5
Other finance (£m)
332
-21
827
-11
3,051
-15
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 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.

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