Category: Trade Body Site

8 June 2018
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in April grew by 22%, compared with the same month last year.
Credit card and personal loan new business together grew by 21% compared with April 2017, while retail store and online credit new business increased by 11%. Second charge mortgage new business increased 2% by value and 8% by volume over the same period.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The recovery in consumer finance new business in April follows a quiet end to the first quarter of 2018 and is consistent with recent improvements in consumer confidence and retail sales.
“Changes to Vehicle Excise Duty in April 2017 have affected the pattern of demand for consumer new car finance. In the first four months of 2018, the point of sale consumer car finance market overall reported new business volumes up by 4% compared with the same period in 2017.”
Table 1: New consumer credit lending
Apr 2018
% change on prev. year
3 months to Apr 2018
% change on prev. year
12 months to Apr 2018
% change on prev. year
Total FLA consumer finance (£m)
8,721
+22
26,294
+9
99,404
+8
Data extracts:
Retail store and online credit (£m)
718
+11
2,063
+8
9,209
+10
Credit cards & personal loans (£m)
4,391
+21
12,613
+12
49,777
+9
Second charge mortgages (£m)
83
+2
251
-2
1,025
+11
Car finance (£m)
3,174
+29
10,357
+7
35,244
+6
Note to editors:
VED changes came into effect on 1 April 2017FLA 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.

6 July 2018
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in May grew by 11%, compared with the same month last year.
Credit card and personal loan new business together grew by 11% in May, while retail store and online credit new business increased by 8%. Second charge mortgage new business fell 1% by value, but was up 2% by volume over the same period.
Geraldine Kilkelly, Head of Research and Chief Economist, said:
“Growth in consumer finance new business in May was in line with wider trends in the economy. Retail sales were boosted by events such as the Royal Wedding and hot weather, while the continued strength of the labour market and low interest rate environment meant consumer confidence remained relatively stable in the first half of 2018.”
Table 1: New consumer credit lending
May 2018
% change on prev. year
3 months to May 2018
% change on prev. year
12 months to May 2018
% change on prev. year
Total FLA consumer finance (£m)
9,100
+11
28,248
+10
100,395
+8
Data extracts:
Retail store and online credit (£m)
769
+8
2,206
+8
9,266
+10
Credit cards & personal loans (£m)
4,707
+11
13,454
+13
50,252
+9
Second charge mortgages (£m)
88
-1
258
-3
1,025
+9
Car finance (£m)
3,166
+13
11,236
+8
35,707
+7
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.

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in August, compared with the same month in 2016, while the value of new business was up by 2% over the same period.
The percentage of private new car sales financed by FLA members through the POS held steady at 86.0% in the twelve months to August.
The POS consumer used car finance market reported new business in August up 8% by value and 2% by volume, compared with the same month last year.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The August figures reported by the POS consumer new car finance market are in line with wider trends in private new car sales. These trends are not unexpected given the strength of the market in recent years and subdued consumer confidence about the general economic outlook.
“New business volumes in the POS consumer car finance market overall were stable in the first eight months of 2017 compared with the same period in 2016.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
New cars
Value of advances (£m)
817
+2
3,561
+2
18,356
+4
Number of cars
45,728
-8
191,258
-7
1,002,368
-3
Used cars
Value of advances (£m)
1,284
+8
3,855
+12
14,568
+10
Number of cars
113,221
+2
339,625
+6
1,301,475
+5
Table 2: Cars bought on finance by businesses
New business
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
New cars
Number of cars
30,146
+3
132,405
+5
513,616
0
Used cars
Number of cars
5,293
+51
17,534
+54
58,848
+35
Note to editors:
In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2016. £41 billion of it supported the purchase of new and used cars, including over 86% of private new car registrations.2. For media enquiries, please contact the FLA press office on 020 7420 9656.