There was a 6% growth in consumer finance new business in August, compared with the same month last year, the Finance & Leasing Association (FLA) has reported.

The value of second charge mortgage new business grew by 31% in August compared with the same month in 2014, while the number of new second charge mortgages grew by 1% over the same period.

There was £64 million in second charge new business in August, the FLA said.

Point-of-sale consumer car finance grew by 12% compared with August 2014, while personal loan and credit card new business together grew by 4% in the same period.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Consumer finance new business provided by FLA members grew for the seventh consecutive month in August, reflecting the continued improvement in consumer confidence since the beginning of 2015.”