12th October 2021 - Credit Connect

Young buyers driving mortgage demand

12th October 2021 Consumer Collections |

New figures released today from Experian have found that mortgage application volumes are up 17% in September this year, when comparing figures to those in September 20191 before the stamp duty holiday2 was in effect). The younger age demographics are fueling these figures, with average daily mortgage applications up 20% for those in their 30s.…

Asset finance market grew by 6% in August

12th October 2021 Asset Finance |

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 6% in August 2021 compared with the same month in 2020. In the eight months to August 2021, new business was 22% higher than in the same period in 2020. The…

Car finance market fell 10% in August

12th October 2021 Consumer Collections | #car finance #motor finance

New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported a fall in new business volumes of 10% in August 2021 compared with the same month in 2020. In the eight months to August 2021, new business volumes remained 16% higher than in the same period in…

Second charge mortgage new business grows by 103%

12th October 2021 Arrears and Recoveries | #second charge mortgages

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 103% in August 2021 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said:…

Consumer finance new business grows by 13%

12th October 2021 Consumer Collections | #car finance #consumer lending #motor finance

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 13% in August 2021 compared with the same month in 2020. In the eight months to August 2021, new business remained 15% higher than in the same period in 2020. The retail store and online credit sector…

UK business failures predicted to increase by 32% by end of the year

12th October 2021 Business | #insolvencies #uk insolvencies

The UK is set for a significant rise in business failures as firms readjust to life without government Covid-19 pandemic support measures, according to trade credit insurance firm, Euler Hermes. The underwriter forecasts that, compared to pre-Covid levels, UK insolvencies could increase by a total of +32% by the end of 2022, with more than…

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