The FLA reported second charge business falling by 22% in volume in October year-on-year but Tim Wheeldon, chief operating officer of Fluent Money, expects this to be a mere blip.
Fluent Money has recorded a strong six months which it says defy last week’s Finance & Leasing Association figures.
The FLA reported second charge business falling by 22% in volume in October year-on-year but Tim Wheeldon (pictured), chief operating officer of Fluent Money, expects this to be a mere blip.
He said: “I was surprised to see such a fall in national volumes. Our experience post MCD has been entirely positive. We have seen a month on month increase in completed new business since MCD. Pipeline business is also strong going into the Christmas period.
“Empirical evidence from our peers suggests that business from intermediaries is growing, which reflects our experience.
“I am going to stick my neck out and say that when the FLA delivers its November figures, the October announcement will be seen to be more of a blip than the start of a negative trend.”
