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.”
