FLA lending down 12% in October

Published on

The consumer credit markets continue to reflect current economic conditions, according to the Finance and Leasing Association (FLA).

Consumer finance provided by FLA members was down 12% in total in October compared to the same month in 2008.

Store instalment credit was down 4%, whereas secured loans were down 49% in October. The consumer credit market is down 17% in total in the last 12 months in comparison to the 12 months preceding October 2008.

The FLA’s head of consumer finance, Fiona Hoyle, said: “Our figures show that consumer credit providers continue to face a tough market. The biggest challenges for lenders in 2010 will be accessing affordable

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...

Hinckley & Rugby for Intermediaries expands remortgage service with PEXA

Hinckley & Rugby for Intermediaries is expanding its partnership with PEXA and Optima Legal,...

Other news

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...