Second charge distributor Fluent for Advisers (F4A) has seen new business continue to grow during October and November in contrast to the latest figures on secured loan lending from the Finance & Leasing Association (FLA).
With FLA figures showing a 22% drop in volume during October, Fluent for Advisers and its parent, Fluent Money, have both experienced a strong sustained period of growth in the past six months.
Tim Wheeldon, Fluent’s chief operating officer (COO), said: “I have to admit I was surprised to see such a fall in national volumes. Our experience post MCD has been entirely positive. We have seen a month on month increase in completed new business since MCD. Pipeline business is also strong going into the Christmas period.
“Empirical evidence from our peers suggests that business from intermediaries is growing, which reflects our experience. I am going to stick my neck out and say that when the FLA delivers its November figures, the October announcement will be seen to be more of a blip than the start of a negative trend.
“There is no doubt we are having to work harder at Fluent to generate the results we are getting. However, we also believe that we are working smarter too thanks to our growing relationships with networks and individual intermediary firms, the whole of market proposition that we offer, backed up by consistently high service standards.”
F4A did not disclose its new business figures.
