New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in June by 9%, compared with the same month last year.

Credit card and personal loan new business together grew by 10% compared with June 2017, while retail store and online credit new business increased by 5%. Second charge mortgage new business fell 6% by value and 3% by volume over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said “The latest figures for consumer finance new business continued to reflect wider economic trends, with the World Cup and hot weather providing a further boost to retail sales.”

“FLA members’ share of the UK consumer credit market held steady in the twelve months to June at 35.9%.”

Table 1: New consumer credit lending

Jun 2018

% change on prev. year

3 months to Jun 2018

% change on prev. year

12 months to Jun 2018

% change on prev. year

Total FLA consumer finance (£m)

8,691

+9

26,519

+14

101,120

+8

Data extracts:

Retail store and online credit (£m)

726

+5

2,213

+8

9,302

+10

Credit cards & personal loans (£m)

4,333

+10

13,431

+14

50,662

+9

Second charge mortgages (£m)

91

-6

262

-2

1,019

+6

Car finance (£m)

3,176

+10

9,524

+17

36,007

+8