January 28, 2015
For Immediate Release
Consumer Credit Solutions report a record-breaking £450million in finance approvals in 2014
Consumer Credit Solutions (CCS) has managed the highest level of loan approvals in its 15 year history, with over £450m approved. CCS provides home improvement and solar PV retailers with the facility to offer finance to customers, including interest free credit, buy-now-pay-later and low rate loans.
The 2014 results are a 38 percent increase on 2013 and brings the total of loan approvals it’s managed to over £1bn in the last three years. 2014 also saw CCS’s best ever month with £47m approved in October – an increase of 139% on the previous October.
CCS Managing Partner 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. The home improvement sector is a good barometer for what’s happening in the wider retail economy, and it’s clear that many homeowners are now feeling confident enough to make large investments in their homes – whether it’s a new conservatory, an extension, or a replacement bathroom or kitchen.
“Achieving £450m is also an exceptional result for our business too. Since we started trading in 1999, the team has consistently met or exceeded its loan targets and hopefully we’re on track for another great year in 2015.”
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