14th February 2024 - Credit Connect

Asset finance grew by record 12% in 2023

14th February 2024 Asset Finance | #asset finance

New figures by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in December 2023 by 1% compared with the same month in 2022. In 2023 as a whole, new business was 12% higher than in the same period in 2022. The industry supported investment…

Consumer car finance fell by 8% in December

14th February 2024 Consumer Lending | #car finance

New figures by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in December 2023 by 8% compared with the same month in 2022. The corresponding value of new business was also 8% lower over the same period. In 2023 as a whole, new business by value and volume…

Consumer finance fell by 2% in December 2023

14th February 2024 Consumer Lending | #consumer lending

New figures by the Finance & Leasing Association (FLA) show that consumer finance new business in December 2023 fell by 2% compared with the same month in 2022. In 2023 as a whole, new business was also 2% lower than in 2022. The credit card and personal loans sectors together reported new business up by…

Second charge mortgage new business grows by 3%

14th February 2024 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 3% in December 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), said…

Retail insolvencies expected to increase as market consolidates

14th February 2024 Business | #retail insolvencies

With six retailers have already gone bust in 2024 and two others warning that they may struggle to stay afloat KPMG is warning that more retailers could collapse, with high inflation and a squeeze on personal finances hitting consumer spending. According to figures from Centre of Retail Research (CEBR), over 400 job roles have been…

One in three households not confident in being able to afford energy bills

14th February 2024 Arrears and Recoveries | #energy bills

A third of households (34%) are not confident in being able to afford their energy bills over the next twelve months, after wholesale energy cost pressures caused the energy price cap to increase on 1st January 2024 according to research by Compare the Market. The energy price cap increased by £94 for a typical household…

Business confidence climbs

14th February 2024 Commercial Credit Management | #business

The continued recovery of the service sector has boosted business confidence, according to analysis from BDO. The firm’s Output Index shows that output rose for the third consecutive month in January, hitting 99.42. This marks the highest level since July 2022. Meanwhile, the Services-Sub Index reached 100.05 – the highest reading since August 2022. This…

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