BROKER vehicle finance showed massive growth last year, exceeding £1 billion, according to a survey of the National Association of Commercial Finance Brokers (NACFB).
It chimes with the BVRLA’s most recent figures showing that sales had grown by 10% over the first six months of 2015 – see our story The only way is up! Leasing brokers see sales grow 10%
The NACFB’s annual survey found that broker vehicle finance among its members had exceeded £1 billion for the first time since 2008, setting a new record at £1.244 billion (up 49% year on year).
The survey, conducted this summer among the NACFB’s 1500 members, demonstrated finance broking rises in every sector, the NACFB reported:
- Commercial mortgages climbed from £2.226 billion to £3.448 billion, a rise of 54.9%
- new types of business finance grew eg peer to peer and crowdfunding from £624 million up to £847 million.
- Invoice Finance up by more than 40%, from £658 million to £946 million
- Leasing and Asset Finance reached £4.017 billion, up from £2.721 billion
“Whilst we have seen a steady increase in lending throughout the last 12 months this year’s survey has provided us with a swing towards traditional lending such as Commercial Mortgages and Asset Finance,” commented Adam Tyler, chief executive NACFB.
