Record-breaking year for home improvement finance

28 Jan, 15

Consumer Credit Solutions approved £450million in finance for 2014

Consumer Credit Solutions approved its highest number of loans in the company’s 15-year history in 2014, totally £450million across home improvement and renewable sectors.

The approvals were up 38% on 2013, which achieved £325million, and brings the total to over £1billion in loans over the last three years.

It follows on from CCS’s best ever month, which saw £47million in October 2014, an increase of 13% on the same month of the previous year. CCS also saw a record-breaking week of finance approvals in 2014.

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Managing partner of CCS, Andy Wallace said: “I think these exceptional results are a clear indication of just how much consumer confidence has increased over the last couple of years, and they reflect the steady growth in turnover our home improvement retailers are experiencing.

“The rise and rise of promotional credit in the sector has invariably driven sales volumes with buy-no-pay-later, low rate finance and interest-free credit playing an increasing role and attracting lots of consumer interest.”