Loans Warehouse has reported that secured lending totalled £635.8 million in 2014.

December’s lending was up 25% year-on-year with the month seeing £51,067,000 in secured loans.

Matt Tristram, co-founder and director of Loans Warehouse, said: “At the start of the year, it was predicted that the industry would grow but a final lending figure for 2014 of more than £635,000,000 was above most people’s expectations. Let’s not forget this is an industry operating under a new regulator.

“We can comfortably say the industry has been moving in the right direction for three years and there is now some genuine traction.”