"Financing projects from £50,000 to £100 million"

Secured lending up 21% in a year

Secured lending up 21% in a year

Secured lending reached £46 million during the month of June, according to the Finance and Leasing Association – a 21% rise on the same month last year.

The figures showed a 14% increase in new business for all consumer finance activity on June last year.

The six months to June also showed a 13% increase from the same period in 2013.

Geraldine Kilkelly, the FLA’s chief economist and head of statistics said: “Growth strengthened across the consumer finance market in June following a relatively quiet couple of months.

“Consumer confidence was no doubt boosted by the good weather and the start of the summer sales.”

The figures were supported by strong growth in car finance volume, which grew by 9% in June, and by 15% in the first six months of 2014.

"The first half of 2014 has seen strong performances in both the consumer new and used car finance sectors,” Ms Kilkelly said.

"The last six months have also seen the FLA's penetration rate maintained at around three quarters of all private new car sales in the UK which shows how popular point-of-sale credit is with new car buyers."

Friday, 08 August 2014 10:48
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