Second charge lending up 21pc

Ryan Fowler

August 7, 2014

Loan volume also increased during the month and was up 9% compared with June 2013 which represented the first growth in new contracts since March.

In total there was a 14% increase in all consumer finance new business compared with June last year and a 13% increase in the first half of 2014.

Geraldine Kilkelly, head of statistics and chief economist at the FLA, 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.”

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