Consumer finance up 10% in March
New figures released today by the Finance & Leasing Association (FLA) shows growth of 10% in consumer finance new business in March, and 5% in Q1 2015 overall.
Retail store and online credit was up by 5% in March, while personal loans and credit card new business together grew by 4% over the same period.
The second charge mortgage market reported new business up 33% by value and 7% by volume in March – its highest level since Q4 2008.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The strength of the consumer finance market in March reflects the general improvement in consumer confidence, and particularly with regard to making major household purchases.”