Financial Reporter, 15th October 2014, Freedom sees record month of secured lending
Manchester-based Freedom Finance has today revealed that it completed a record month in September, signalling growing consumer confidence in the newly Financial Conduct Authority controlled market.
September saw over £6 million worth of secured loans completed through Freedom Finance’s secured loan sourcing system. The results show a significant increase in secured loan volumes since the FCA took over control of the industry from the less proactive Office of Fair Trading.
In March, the month before the FCA took responsibility for the market, secured loan volumes were more than 30% lower, at £4 million. Across all secured and unsecured loans, lending via Freedom Finance has risen by over 33% since the start of the year to almost £17 million in September.