15th June 2023 - Credit Connect

Asset finance lending grew by 12% in April

15th June 2023 Asset Finance | #asset finance

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in April 2023 by 12% compared with the same month in 2022. In the first four months of 2023, new business was 13% higher than in the same period in 2022. The…

SME lending fell in first quarter

15th June 2023 Asset Finance | #business lending

Latest data from UK Finance has indicated that in the first quarter lenders saw a rebound in applications for both loans and overdrafts, with banks reporting quarter-on-quarter growth of 20% and 11% respectively with the increases may indicating that SME demand for finance is turning a corner. The weak levels of demand for finance from…

GDP grew 0.2% in April

15th June 2023 Commercial Credit Management | #GDP

Latest Office for National Statistics (ONS) data shows that the economy returned to growth in April, with a 0.2% increase. The latest figures marks an improvement on the 0.3% fall recorded in March. The ONS report also shows that the economy expanded by 0.1% in the three months to April. Commenting on GDP figures for…

E.ON Next ordered to pay £5m in compensation

15th June 2023 Consumer Collections | #energy

Domestic energy supplier E.ON Next has been ordered by Ofgem to pay £5 million in compensation for poor standards of customer service. Throughout 2022, energy regulator Ofgem conducted a series of Market Compliance Reviews (MCRs), examining energy suppliers’ performance on key areas across the sector in a bid to drive up standards. One of these…

Second charge mortgage volumes fall by 22%

15th June 2023 Arrears and Recoveries | #second charge mortgages

New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes fell by 22% in April 2023 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),…

Consumer car finance falls by 15%

15th June 2023 Consumer Lending |

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in April 2023 by 15% compared with the same month in 2022. The corresponding value of new business fell by 16% over the same period. In the first four months of 2023, new business fell 8%…

Consumer finance new business fell by 10% in April

15th June 2023 Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance new business fell in April 2023 by 10% compared with the same month in 2022. In the first four months of 2023, new business was 4% lower than in the same period in 2022. The retail store and online credit…

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