11th November 2022 - Credit Connect

Second charge lending increases by 42%

11th November 2022 Arrears and Recoveries |

New figures released by the Finance & Leasing Association (FLA) have indicated that the value of new second charge business secured in September increased by 42% compared to the same period last year. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and…

Consumer finance new business grew by 4% in September

11th November 2022 Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 4% in September 2022 compared with the same month in 2021. In the first nine months of 2022, new business was 19% higher than in the same period in 2021. The credit card and personal loan sectors…

Consumer car finance new business volumes fall by 5%

11th November 2022 Consumer Lending | #motor finance

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in September 2022 by 5% compared with the same month in 2021. The corresponding value of new business in September was at a similar level to the same month in 2021. In the first nine months…

Asset finance new business grew by 9% in September

11th November 2022 Alternative Business Lending |

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in September 2022 by 9% compared with the same month in 2021. In the first nine months of 2022, new business was 3% higher than in the same period in 2021. The…

GDP figures herald start of recession and highlights serious economic decline risk

11th November 2022 Commercial Credit Management | #recession

Latest Office for National Statistics (ONS) figures show that GDP fell 0.2% in Q3 2022, Commenting on the fall in Federation of Small Businesses (FSB) National Chair Martin McTague said “Confirmation of a shrinking economy is dreadful news for small businesses that have been facing increasing recessionary pressures for months now.” “Lower levels of reserves…

Mortgage arrears figures remain stable but possessions rise

11th November 2022 Arrears and Recoveries | #mortgage arrears

Latest data from UK Finance indicated that third quarter (Quarter 3) figures saw 1% fewer homeowner mortgages in arrears than in Quarter 2. In total, there were 74,440 homeowner mortgages in arrears of at least 2.5%. Pf these, 28,910 were in ‘significant’ arrears – defined as being 10% or more of the outstanding balance. However,…

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