The Finance & Leasing Association (FLA) has reported a 9% growth in consumer finance new business in September, compared with the same month last year.
Second charge mortgage new business increased 22% by value in September to £67m, while the number of new second charge mortgages fell by 7% over the same period.
Retail store and online credit grew by 4% compared with September 2014, while credit card and personal loan new business together increased by 4% over the same period.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “September saw growth across all of the main finance products as consumer confidence remained relatively strong.
“Consumer finance new business provided by FLA members grew by 7% in the first nine months of 2015, in line with our expectations for growth in UK new consumer credit in 2015 as a whole.”
