Secured loan volumes drop 10pc

Sarah Davidson

March 6, 2015

But lending was still 13% higher over the same period based on value, while secured lending continues to perform strongly year-on-year.

There were 150 loans issued in the three months to January 2015 and 603 annually to the same month, representing increases of 19% and 27% year-on-year.

Overall consumer finance has increased by 7% in the 12 months to January year-on-year, while car finance (17%) stands in second place behind secured lending based on annual increases.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “FLA’s consumer finance sectors reported a relatively quiet start to 2015, but our latest research suggests that UK gross consumer credit will grow by about 7% in 2015 as a whole.”

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