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Secured loan business up 14% year-on-year

Secured loan business totalled £74m in Q1 2012, up 14% from Q1 2011, the latest figures from the Finance & Leasing Association show.

In March, £27m of secured loan business was carried out, up 8% on March 2011.

Overall,consumer finance business provided by FLA members grew by 9% in March, compared with March 2011.

Fiona Hoyle, FLA head of consumer finance at the FLA, says: “Our figures show a slight rise in most markets, which suggests that consumer confidence is showing signs of a tentative return.

“But many consumers continue to be cautious, reinforcing the need for the government to make sure that their proposed changes to consumer credit regulation do not limit the supply of affordable, responsibly-provided credit.”


NewBuy rates rise barely two months after their launch

Lenders have increased rates on their NewBuy Guarantee products, less than two months after launching them. Under the scheme, which started in March, lenders offer 95% LTV mortgages on new-build properties against a mortgage indemnity guarantee funded jointly by builders and the government up to 9% of the property value. NatWest has increased the rate […]

Caption Competition

A human table serves drinks at United Trust Bank’s recent open evening held at its offices

SVR hikes will cost borrowers £300m, says Which?

Mortgage borrowers face paying an extra £300m a year as a result of lenders’ SVR hikes, says Which?. Last week Halifax, The Co-operative Bank, and Clydesdale and Yorkshire banks all increased their SVRs, with Which? estimating it will cost consumers an additional £300m in mortgage repayments over the next year. Co-operative Bank raised its SVR […]


Improving health and wellbeing through pensions auto-enrolment

As the auto-enrolment revolution is rolled out to companies with between 50 and 249 people, employers will be grappling with the new rules and requirements. Even though introducing the new regime can be time consuming, many employers are regarding it as an opportunity to review their benefits packages, with employee health and wellbeing regarded as a popular addition.


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