New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in May 2026 was at a similar level to May 2025. In the first five months of 2026, new business in this market was 4% higher than in the same period in 2025.
The credit card and personal loans sectors together reported new business 5% lower in May than in the same month in 2025, while the retail store and online credit sector reported an increase in new business of 4% over the same period.
Commenting on the figures, Geraldine Kilkelly, Director of Research and Chief Economist at the FLA, said:
“Consumer finance new business held steady in May, although performance varied across product markets. Demand for credit continues to reflect the differing financial circumstances and spending priorities of UK households.
“The economic environment remains challenging. Although UK GDP returned to growth in May, recent surveys suggest that business activity and confidence have softened, and the outlook remains one of modest growth. Uncertainty linked to developments in the Middle East, and their potential impact on energy prices, inflation and interest rates, remains a key risk to consumer confidence and spending.
“FLA members remain focused on providing responsible access to credit, while continuing to invest in technology and innovation to improve customer outcomes and meet changing consumer needs.”
Table 1: New consumer credit lending
| May 2026 | % change on prev. year | 3 months to May 2026 | % change on prev. year | 12 months to May 2026 | % change on prev. year | |
| Total FLA consumer finance (£m) | 10,080 | 0 | 33,231 | 4 | 124,637 | 6 |
| Data extracts: | ||||||
| Retail store and online credit (£m) | 744 | 4 | 2,156 | 3 | 9,160 | -2 |
| Credit cards & personal loans (£m) | 5,233 | -5 | 16,218 | 0 | 64,370 | 4 |
| Second charge mortgages (£m) | 175 | 9 | 594 | 25 | 2,355 | 28 |
| Car finance (£m) | 3,389 | 5 | 12,545 | 9 | 42,407 | 7 |
Note to editors:
- The FLA Impact Report 2026, The Hidden Engine Behind UK Growth, was published on 29 June 2026. Further details may be found here.
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2025, FLA members provided £163 billion of new finance to UK businesses and households. £122 billion of this was in the form of consumer credit representing almost a third of total new consumer credit written in the UK in 2025.
- Consumer car finance reported in these figures refers to finance obtained through the point of sale.
- For media enquiries, please contact the FLA press office on 020 7420 9656.
