Recent figures published by the Finance & Leasing Association (FLA) show that:
- Asset finance new business (primarily leasing and hire purchase) grew by 10% in November 2015, compared with the same month in the previous year.
- Consumer finance new business grew 17% in November 2015, compared with the same month in the previous year. Retail store and online credit grew by 10% compared with November 2014, while credit card and personal loan new business together increased by 14%. Second charge mortgage new business was up 31% by value and 13% by volume over the same period.
- Point-of-sale consumer new car finance market saw new business growth of 17% by volume and 24% by value in November 2015, compared with the same month in the previous year. The point-of-sale consumer used car finance market also saw strong growth in November, with new business up 18% by volume and 22% by value.