Category: Trade Body Site

11 January 2018
Commenting on the November 2017 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 further modest growth in November, and in the first 11 months of 2017, new business volumes increased by 11% compared with the same period in 2016.
“Lenders remain focused on fully embedding the new regime, which sees first and second charge mortgages regulated on the same basis.”
Table 1: New second charge mortgage lending
Nov 2017
% change on prev. year
3 months to Nov 2017
% change on prev. year
12 months to Nov 2017
% change on prev. year
Value of new business (£m)
80
+3
242
+8
996
+13
Number of new agreements (No.)
1,815
+2
5,388
+6
21,288
+9
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 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, representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

13 December 2017
Commenting on the October 2017 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 October, with new business up 20% by value and 19% by volume compared to the same period in 2016. The number of new second charge mortgages was 1,880.
“A second mortgage continues to be a useful option for customers seeking to raise additional funds without wanting to change their existing mortgage, and are regularly used to fund home improvements.”
Table 1: New second charge mortgage lending
Oct 2017
% change on prev. year
3 months to Oct 2017
% change on prev. year
12 months to Oct 2017
% change on prev. year
Value of new business (£m)
85
+20
254
+15
993
+13
Number of new agreements (No.)
1,880
+19
5,491
+10
21,247
+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 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, representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

13 December 2017
New figures released today by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in October, compared with the same month last year.
Credit card and personal loan new business together grew by 13% compared with October 2016, while retail store and online credit new business increased by 3%. Second charge mortgage new business increased 20% by value and 19% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The growth in consumer finance new business so far in 2017 has been in line with expectations. The latest research from Oxford Economics on behalf of the FLA suggests that total UK new consumer credit will grow by 4.1% in 2017 overall and by 1.2% in 2018.”
Table 1: New consumer credit lending
Oct 2017
% change on prev. year
3 months to Oct 2017
% change on prev. year
12 months to Oct 2017
% change on prev. year
Total FLA consumer finance (£m)
7,832
+10
23,995
+5
92,504
+6
Data extracts:
Retail store and online credit (£m)
613
+3
1,679
+5
6,720
+2
Credit cards & personal loans (£m)
4,075
+13
11,971
+6
47,447
+7
Second charge mortgages (£m)
85
+20
254
+15
993
+13
Car finance (£m)
2,727
+8
8,971
+5
33,218
+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 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 representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

9 November 2017
Commenting on the September 2017 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 fall in new business volumes in September comes amid subdued consumer confidence which has affected the housing market as a whole. It follows six consecutive months of growth in second charge mortgage new business volumes which grew by 11% in the first nine months of 2017 to 16,043.
“Lenders are continuing to embed the new regulatory regime which puts first and second charge mortgage regulation on the same footing.”
Table 1: New second charge mortgage lending
Sep 2017
% change on prev. year
3 months to Sep 2017
% change on prev. year
12 months to Sep 2017
% change on prev. year
Value of new business (£m)
77
0
259
+16
979
+10
Number of new agreements (No.)
1,693
-2
5,594
+11
20,951
+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 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, representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.