FLA CEO Responds to Andy Burnham’s Speech
Responding to the Prime Minister’s speech at Labour Party Conference, Shanika Amarasekara MBE, Chief Executive of the Finance & Leasing Association (FLA), said: “The Prime Minister has set out an ambitious agenda for long-term economic change, with a focus on reindustrialisation, better jobs and creating opportunities in every part of the country. “If Britain is serious about reindustrialisation, technology adoption and good growth in every postcode, we need to think much harder about how capital actually reaches the households and businesses expected to deliver it. “FLA members provide around £165 billion of new finance every year, helping households finance vehicles […]
Second charge mortgage new business volumes grew by 1% in July 2026
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market continued to grow in July, although at a more modest pace than earlier in the year. Looking ahead, the prospect of market interest rates remaining higher for longer may continue to temper demand. “For homeowners looking to access housing equity while retaining an existing low-rate mortgage, second charge mortgages continue to provide a flexible and attractive funding option.” Table 1: New second charge […]
Budget should unlock private finance to drive investment and growth, says finance industry
Budget should unlock private finance to drive investment and growth, says finance industry FLA calls for action to mobilise capital for SMEs while helping households cut energy and motoring costs The Government should use the Budget to unlock more private finance for productive investment, while helping households reduce the cost of essential energy and motoring, the Finance & Leasing Association (FLA) has said. FLA members already finance 34.3% of UK investment in machinery, equipment and vehicles, putting the sector at the heart of the Government’s ambition to increase investment, productivity and growth across the country. In its submission ahead of […]
£37.6bn of finance helping power growth across Northern England
£37.6bn of finance helping power growth across Northern England New FLA paper calls for finance, investment and better connectivity to be at the heart of the Government’s northern growth agenda The finance industry provided £37.6 billion to businesses and households across Northern England last year, underlining the critical role private finance can play in delivering the Government’s growth mission, according to a new paper from the Finance & Leasing Association (FLA). The Engine Behind Northern Growth argues that closing the North’s productivity gap will require businesses to invest, people to be able to participate fully in the economy and Government […]
FLA welcomes FCA focus on removing barriers to SME finance
The Finance & Leasing Association (FLA) has welcomed the FCA’s new Feedback Statement on supporting SME access to finance, which identifies a number of regulatory frictions that can make it harder for finance providers to serve smaller businesses. The FCA concludes that its regulation is not a major barrier to SME finance, but highlights opportunities to reduce unnecessary friction, including through digital verification, Consumer Credit Act reform and the development of open finance. The FLA supports this approach. Regulation should protect customers while enabling finance to flow to the businesses that need it. Where regulation adds unnecessary cost, duplication or […]
Solifi returns as Headline Partner of FLA Annual Dinner 2027
The Finance & Leasing Association (FLA) is delighted to announce that Solifi will return as Headline Partner of the FLA Annual Dinner 2027, marking the fifth consecutive year of its support for the leading event in the UK finance and leasing industry calendar. The Annual Dinner will take place on Tuesday 9 February 2027 at JW Marriott Grosvenor House, Park Lane, London, bringing together more than 1,200 people from across the finance and leasing industry and its wider stakeholder community. The event provides a unique opportunity for business leaders, policymakers, regulators and industry partners to come together, celebrate the contribution […]
FLA welcomes SRA proposals but calls for FCA regulation of litigation funders
The Finance & Leasing Association (FLA) has welcomed proposals from the Solicitors Regulation Authority (SRA) to strengthen consumer protections around third-party litigation funding, but says the Government must go further by bringing commercial litigation funders within the scope of Financial Conduct Authority (FCA) regulation. The FLA’s response to the SRA consultation says regulating solicitors is a positive step, but will not address the wider risks in the litigation funding market. A consistent regulatory framework is needed across the market to promote good practice, improve transparency and protect consumers. The FLA is calling for: Stronger professional conduct requirements for solicitors involved […]
FLA members provided £98 billion of new lending in the 7 months to July 2026
New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £98.2 billion of new lending in the first seven months of 2026, 4% higher than in the same period in 2025. Of this total: £24.5 billion was provided to businesses for investment in machinery, equipment, and vehicles, including £15.3 billion to SMEs. £73.6 billion was provided to households, including £26.0 billion for new and used car purchases. £2 billion was provided by non-bank lenders. The figures underline the vital role specialist lenders play […]
Second charge mortgage new business volumes grew by 9% in June 2026
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market returned to growth in June and delivered a strong second quarter overall, reflecting continued demand from homeowners looking to manage their finances effectively. “The fact that loan consolidation accounted for at least 60% of new business highlights the important role second charge mortgages play in helping consumers refinance existing borrowing without disturbing their primary mortgage arrangements. “The FCA’s recent review highlighted important areas for […]
FLA Welcomes Measures to Improve Consistency in Financial Complaints
The FLA has consistently called for reforms that improve certainty, consistency and accountability within the UK’s financial services redress framework. We therefore welcome today’s measures from the Financial Ombudsman Service, including the confirmation that complaints will be assessed against the rules and standards in force at the time, providing greater confidence that decisions will not be based on retrospective interpretations. These reforms are an important step towards a fairer and more transparent complaints system. Consumers and firms alike benefit from a redress framework that delivers clear, predictable outcomes while ensuring customers continue to get the help and support they need […]
FLA members provide £84 billion of finance to support UK investment and growth
New figures published today by the Finance & Leasing Association (FLA) show its members provided £84.3 billion of new lending in the first half of 2026, 5% higher than in the same period last year, helping businesses invest, households make essential purchases and supporting economic growth across the UK. The figures underline the central role specialist lenders continue to play in the UK’s economy by providing the finance businesses and households need to invest with confidence despite continued economic uncertainty. In the first half of 2026: £21.0 billion was provided to businesses to invest in machinery, equipment and vehicles, including […]
FLA Q2 2026 Industry Outlook Survey: Finance industry confidence improves as demand for funding remains resilient
The Finance & Leasing Association’s (FLA) Q2 2026 Industry Outlook Survey, published today, showed some improvement in confidence across the finance and leasing industry, despite continued economic uncertainty. While most respondents (61%) still expected UK economic conditions to weaken over the next 12 months, this was down from 81% in Q1 2026. At the same time, the proportion expecting conditions to improve increased from 6% to 27%. FLA members provided a record £163 billion of new finance to UK businesses and households in 2025, supporting investment in machinery, equipment, vehicles and consumer spending across the economy. The Q2 survey results […]
Outdated lending rules are holding back UK investment, new Chancellor told
Modernising outdated consumer credit rules that affect business lending should be one of the new Chancellor’s first economic priorities if the Government is serious about unlocking investment and delivering sustainable growth, the Finance & Leasing Association (FLA) said today. Congratulating John Healey on his appointment as Chancellor of the Exchequer, the FLA said reforming the Consumer Credit Act would remove unnecessary barriers to business finance, making it easier for firms to invest while maintaining the UK’s high standards of customer protection. FLA members provided £163 billion of new lending in 2025, followed by a further £42 billion in the first quarter of […]
Second charge mortgage new business volumes fell by 1% in May 2026
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said: “May saw the second charge mortgage market report its first contraction in new business volumes since April 2025. Despite this, new business volumes grew by 17% in the first five months of 2026. “Demand is expected to remain resilient over the coming months as households seek flexible funding for home improvements, loan consolidation and other major expenses. Second charge mortgages continue to provide a valuable option for consumers looking to […]
FLA: Hidden engine behind UK growth ready to support Chancellor’s investment ambitions
The Finance & Leasing Association (FLA) today said its members stand ready to support the Government’s plans to drive economic growth by providing the specialist finance that enables businesses to obtain equipment, consumers to buy cars and households to invest in their homes. Ahead of the Chancellor’s Mansion House speech, the FLA said delivering sustainable growth will depend not only on public policy, but on maintaining a competitive financial services sector that helps investment flow into the real economy. The FLA’s recently published Impact Report, The Hidden Engine Behind UK Growth, highlights the essential role specialist lenders play in supporting […]
FLA: BBB support package will help lenders back more SMEs
The Finance & Leasing Association (FLA) has welcomed the British Business Bank’s announcement of a package of new measures to support smaller businesses, including a £6.5 billion uplift to the Growth Guarantee Scheme designed to unlock further lending over the next four years. Responding to the British Business Bank’s announcement of further support for SMEs, Shanika Amarasekara, Chief Executive of the Finance & Leasing Association, said: “This is exactly the kind of practical intervention smaller businesses need. “The FLA has been clear that if the UK is serious about growth, it must back the lenders that back SMEs. Government-backed guarantees […]
FLA News Statement on Mills Review: AI and the Future of Retail Financial Services
Shanika Amarasekara MBE, FLA Chief Executive said: “AI is reshaping consumer finance faster than many people realise. It’s changing how people search, compare and make financial decisions, and the Mills Review rightly recognises that we are moving towards a world where financial support is more personalised, continuous and, in some cases, delegated. “For lenders and finance providers, the prize is enormous. AI can make borrowing simpler, improve fraud detection, identify financial difficulties earlier and deliver better outcomes for customers. But innovation will only succeed if people trust it. Customers need to understand when AI is being used, have confidence that […]
FLA Statement – FCA Partially Suspends Redress Scheme
The Finance & Leasing Association (FLA) welcomes the Upper Tribunal’s decision to partially suspend elements of the Financial Conduct Authority’s (FCA) motor finance compensation scheme until it has determined the legal challenges before it. The FLA continues to work closely with its members and the FCA to ensure the scheme is ready to be implemented. In the meantime, firms will continue preparing for the scheme and meeting the requirements that remain in force, while the Tribunal considers the appeals. Although the partial suspension means compensation payments cannot begin until the legal process has concluded, it provides greater certainty for firms […]
New Lending to UK Households and Businesses Hits £69bn
UK households and businesses received £69 billion of new finance from Finance & Leasing Association (FLA) members in the first five months of 2026, up 4% on the same period last year, according to new figures published today. The new figures are being released at the same time of the FLA’s first Impact Report. The report, The Hidden Engine Behind UK Growth, reveals how finance provided by FLA members is helping businesses invest in equipment, technology and vehicles, while enabling millions of consumers to access transport and other essential purchases. FLA members provided £2.4bn of new lending to finance agricultural […]
FLA Statement on High Court Ruling and FOS Complaint Timeframes
The Finance & Leasing Association (FLA) welcomes Wednesday’s ruling in the High Court on the Financial Ombudsman Service (FOS) case regarding the acceptance of complaints about overdrafts and credit cards outside the Financial Conduct Authority’s established six-year timeframe. We strongly believe that FOS complaints handling should align with FCA rules. This delivers certainty for lenders and consumers. In turn, this creates a more attractive outlook for investment in the UK and drives the growth we need. This is another milestone in the journey for the reform of FOS. The FLA will continue to work closely and productively with FOS on behalf […]
FLA Welcomes FCA Review and Urges Early Action on Claims Management Market to Protect Consumers and Support Growth
Trade body says action on well-evidenced harms should not wait until 2027, warning poor claims practices are increasing costs, delaying redress and acting as a drag on UK growth. The Finance & Leasing Association (FLA) has welcomed the Financial Conduct Authority’s (FCA) market study into claims management services, while encouraging the regulator to take early action in areas where evidence of consumer and market harm is already well understood. The FLA said the review represents an important opportunity to improve outcomes for consumers and strengthen confidence in the claims management market. It also urged the FCA to work closely with […]
FLA members provided £56 billion of new lending in the first four months of 2026
New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £56.0 billion of new lending in the first four months of 2026, 5% higher than in the same period of 2025. Of this total: £14.0 billion was provided to businesses for investment in machinery, equipment, and vehicles, including £8.8 billion to SMEs. £42.0 billion was provided to households, including £15.4 billion for new and used car purchases. £6 billion was provided by non-bank lenders. Shanika Amarasekara, CEO of the FLA, said: “Asset finance, motor […]
Second charge mortgage new business volumes grew by 21% in April 2026
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market continued to grow strongly in April, with new business up 29% by value and 21% by volume, highlighting sustained demand for flexible borrowing options in the current environment. “Looking ahead, demand is likely to remain supported by this need for flexibility, with second charge mortgages well placed to help households manage budgets and maintain financial resilience as economic conditions evolve.” Table 1: New second […]
Business Finance – not Whitehall – is the real driver of UK growth, says FLA Chief Executive
Finance & Leasing Association (FLA) Chief Executive Shanika Amarasekara MBE has today called for greater recognition of commercial finance as a critical driver of UK economic growth, arguing that the investment decisions made by businesses across the country are the driving force behind productivity, job creation and economic expansion. Speaking to industry leaders, she highlighted the vital role that commercial finance plays in turning business ambition into action, enabling firms to invest in new equipment, technology, vehicles, property and working capital that support growth and competitiveness. Shanika Amarasekara MBE said: “Growth rarely starts in Whitehall. Growth starts when somebody decides […]
Funding the Real Economy: FLA Launches its Impact Report 2026
The Finance & Leasing Association (FLA) will launch its first-ever Impact Report, The Hidden Engine Behind UK Growth, on 29 June to an audience of industry leaders, politicians and the media. The inaugural report highlights the significant contribution FLA members make to the real economy, with total new lending across the markets reaching £163 billion to support businesses and consumers across the UK. In Q1 2026 alone, FLA members provided a further £42 billion of new lending, up 5% year on year. It is part of a series of initiatives the FLA are introducing to showcase the contribution its members […]
FLA response to FCA claims management review gains Politico coverage
The FLA has responded to the Financial Conduct Authority’s (FCA) review of the claims management market, with Chief Executive Shanika Amarasekara setting out support for a coordinated regulatory approach. The comments have been reported in Politico. Commenting on the FCA’s review of the claims management market Shanika Amarasekara, Chief Executive of the Finance & Leasing Association (FLA), said: “We welcome the approach set out by the FCA for reform of the claims management market as well as its commitment to a coordinated regulatory response, which we believe is the right way to address the problems in the market. “For years, […]
FLA comments on the King’s Speech and Enhancing Financial Services Bill
The Enhancing Financial Services Bill published today represents an important step in the Government’s pledge to update and strengthen the UK’s financial regulatory framework. Today’s Bill provides the legal basis for the timely changes announced to the Financial Ombudsman Service (FOS) to align FOS decisions with the Financial Conduct Authority (FCA) rules and guidance. Over the past eighteen months, the Finance & Leasing Association (FLA) has worked collaboratively with HM Treasury and the FCA on plans to modernise financial services regulation, and we are pleased to see constructive progress. FLA members provided £163 billion of new lending across businesses and […]
Second charge mortgage new business volumes grew by 20% in March 2026
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market continued to expand in Q1 2026, with new business up 33% by value to £625 million and volumes rising 22% to almost 11,500 new agreements, year-on-year. This reflects demand for flexible borrowing options to support household budgeting. “These figures highlight the continued strength of the second charge mortgage market. At a time when many customers are considering their borrowing options carefully, second charge mortgages […]
FCA announces review of claims management market
Commenting on the Financial Conduct Authority’s (FCA) announcement of a review of the claims management market – specifically poor practices such as aggressive marketing and signing customers up without their consent – Shanika Amarasekara, Chief Executive of the Finance & Leasing Association (FLA), said: “This is a welcome intervention by the regulator that will create better outcomes for consumers. “For years, the entire credit industry, including motor finance lenders, has endured claims management companies monetising the complaints process. For example, in the motor finance commissions redress scheme, we’re seeing cases of multiple representation coming to light where up to 21 […]
Second charge mortgage new business volumes grew by 27% in February 2026
Commenting on the latest new business figures for the second charge mortgage market, Geraldine Kilkelly, Director of Research and Chief Economist at the Finance & Leasing Association (FLA), said: “The second charge mortgage market reported robust new business growth in February, with new business by value reaching its highest February level since 2008. “By providing a secured alternative to higher‑cost unsecured borrowing, second‑charge mortgages are proving popular with households as they help to manage affordability pressures while maintaining financial stability. “The UK economy now faces a more challenging outlook, as the conflict in the Middle East is likely to weigh […]
Second charge mortgage new business volumes grew by 19% in January 2026
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market made a positive start to 2026 although the pace of growth slowed slightly compared with recent months. “Following the FCA’s recent report on second charge mortgages, the FLA will be working closely with the regulator to understand their findings as we continue to support customers who want to consolidate higher-interest rate loans into more affordable borrowing.” Table 1: New second charge mortgage lending […]
FOS “fair and reasonable” assessment must align to regulations
New measures announced today to modernise and transform the UK redress system include a change to the way the Financial Ombudsman Service (FOS) assesses complaints. Previously, the FOS had a remit to resolve individual complaints based on what it thinks is “fair and reasonable in all the circumstances of the case”, but that degree of latitude meant it could interpret FCA’s rules and regulations – it did not have to accept the original intent of the rule nor method of compliance by the firm – rather, the FOS decided what should have happened in its opinion and would hold firms to that standard. […]
FLA Members provided £163 billion of new lending in 2025
New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided a record £162.8 billion of new lending in 2025, 5% higher than in 2024. Of this total: £40.3 billion was provided to businesses for investment in machinery, equipment, and vehicles, including £24.4 billion to SMEs. £122.5 billion was provided to households, including £41.1 billion for new and used car purchases. £2 billion was provided by non-bank lenders. Shanika Amarasekara, CEO of the FLA, said: “Asset finance, motor finance and consumer finance are essential […]
Second charge mortgage new business volumes grew by 17% in 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market ended 2025 on a strong note with new business volumes up 35% in December compared with the same month in 2024. In 2025 as a whole, new business by both value and volume reached its highest level since 2008. “The analysis of loan purpose suggests a stable picture with the proportion of new business volumes which were solely for the consolidation of existing loans […]
FLA appoints Jeremy Barton as General Counsel
The Finance & Leasing Association has announced the appointment of Jeremy Barton as its new General Counsel, marking an important step in strengthening its legal, regulatory and governance capability at a time of significant change for the consumer, motor and asset finance sector. The new role reflects the growing complexity of the regulatory environment and the FLA’s commitment to supporting members with authoritative legal insight, robust governance, and proactive engagement with policymakers and regulators. Jeremy is a highly experienced legal executive, most recently former General Counsel of KPMG UK, During his time there, he led the firm’s legal and governance […]
FLA Partners with Nihal Arthanayake in 2026
The Finance & Leasing Association (FLA) has announced a new partnership with award-winning broadcaster, interviewer and author Nihal Arthanayake, who will work with the organisation across a series of key activities during 2026. The collaboration supports the FLA’s ambition to bring thoughtful, engaging and inclusive conversations to the heart of the finance and leasing sectors, reflecting the vital role our members play in the real economy. They support households, consumers and businesses every day through access to finance – from helping people navigate life’s big moments to enabling SMEs to invest, grow and create jobs. The partnership with Nihal Arthanayake […]
Second charge mortgage new business volumes grew by 27% in November 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market has reported growth in new business volumes in all but one month in 2025 so far and is ending the year growing as strongly as it began it. “The proportion of new business volumes which were solely for the consolidation of existing loans fell in November compared with the previous month at 58.0%. A further 22.4% were for home improvements and loan consolidation, and […]
Second charge mortgage new business volumes grew by 22% in October 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market has reported growth in the value of new business in each month of 2025 so far. The product is proving popular with consumers who want to effectively manage loan consolidation or to fund home improvements. New business volumes are expected to reach almost 41,000 in 2025 which would be the highest level since 2008. “The proportion of new business volumes which were solely for […]
Second charge mortgage new business volumes grew by 22% in September 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “September saw the second charge mortgage market report its strongest monthly growth in the value of new business in 2025 so far, to reach the highest monthly total since June 2008. This was set against a backdrop of growth across most of the main consumer finance products provided by FLA members. In the nine months to September 2025, new business volumes in the second charge mortgage market were 13% […]
Second charge mortgage new business volumes grew by 10% in August 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market continued to report double-digit growth in August but at a slower rate than in recent months. In the eight months to August 2025, new business volumes were 12% higher than in the same period in 2024. “The proportion of new business volumes which were solely for the consolidation of existing loans increased in August to 59.4%, the highest proportion so far this year. “As […]
Second charge mortgage new business volumes grew by 15% in July 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market continued to strengthen in July with monthly new business by value reaching its highest level since June 2008. In the seven months to July 2025, new business volumes were 13% higher than in the same period in 2024. “The proportion of new business volumes which were totally or in part for the consolidation of existing loans remained stable at 81% in the seven months […]
Second charge mortgage new business volumes grew by 16% in June 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “June saw the second charge mortgage market report its highest level of new business by both value and volume in 2025 so far. In the first half of 2025, new business volumes were 12% higher than in the same period in 2024. “The distribution of new business by purpose of loan in June 2025 showed that the proportion of new agreements which were for the consolidation of existing loans […]