Latest figures from the Finance & Leasing Association (FLA) show growth of 11% in consumer finance new business in March, compared with the same month last year, and growth of 14% in Q1 2016 overall.
The second charge mortgage market saw new business grow 16% by value but fall 1% by volume over the same period. Second charges totalled £86m in March.
Meanwhile, credit card and personal loan new business together grew by 9% compared with March 2015.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “These figures show a solid performance by the consumer finance market in March and the first quarter of 2016 as a whole. They reflect the continued strength of consumer confidence despite uncertainty about the near-term outlook for the economy.”
