Seconds lending up 29pc

Sarah Davidson

January 16, 2015

Despite the considerable increase this stands lower than was recorded in October, when yearly seconds lending increased by 32%.

In November 2014 on a monthly basis seconds lending increased by 7% compared to November 2013.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The run-up to Christmas usually sees a strong performance by the retail store and online credit sector and 2014 was no exception.

“New business in this sector reached £638m in November, its best November performance for at least three years.”

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