New figures released from the Finance & Leasing Association (FLA) shows growth of 8% in consumer finance new business in April, compared with the same month last year. 

Second charge mortgages increased 26% by value and 9% by volume. They totalled £59 million in April 2015.

Meanwhile, retail store and online credit was up by 7% in the same period.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “New finance provided to consumers by FLA members has been growing at a steady rate and in line with forecasts for growth in 2015 as a whole.  Our latest research suggests that new consumer lending is likely to grow by 7% in 2015.”