Consumer credit lending was down by 1% in July, according to the latest figures from the Finance & Leasing Association (FLA).
In July, second-charge mortgages were 8% up on the previous July, but from a very low base. £28 million in secured loans were completed during that month. £284 million has been completed over the past year.
Retail store credit was down by 13% and credit cards and personal loans by 2% compared with July 2010.
Fiona Hoyle, head of consumer finance at the Finance & Leasing Association, said: “Consumers are cautious about spending on the High Street. When they do decide to borrow
