Reference Case Number: FOI10324
Freedom of Information: Right to know request:
Please provide an Excel spreadsheet separately displaying the FCA's Product Sales Data with figures for home credit loan agreements and high-cost short-term credit. Please display home credit loan agreements and high-cost short-term credit as separate items.
For home credit loan agreements please include:
1. Number of firms
2. Number of loans
3. Total value of loans
4. Total amount payable
For high-cost short-term credit please include:
1. Number of firms
2. Number of loans
3. Total value of loans
4. Total amount payable
Please may you provide the figures stated above from Q1 of 2022 to Q2 of 2023 (or whatever is the most recent quarter).
FCA response:
Please note that Q2 data is not due to be submitted until 28 July 2023. Therefore, we are only able to provide data covering up to Q1 2023.
When reviewing the data, please note that we hold product sales data (PSD) in relation to credit agreements entered into by regulated firms which meet the definition of high-cost short-term credit[1] (HCSTC) or home credit loan agreement[2]. These PSD cover agreements which meet the definitions of HCSTC or home credit loan agreement and have been used to produce this response.
The PSD content used reflects the data as submitted to us by firms. Firms submit PSD on a quarterly basis, providing us with details of the loans they originated in the quarter concerned.
If available, additional sources have been used to supplement the data for firms missing from a particular quarter. The Total Amount Payable value is not always available in these additional sources, so the figure is not included when incomplete.
We estimate that the population of firms included in the dataset represents 90%+ of the HCSTC and home credit loans agreements market (based on the number of new loans originated). Some lenders did not submit data for the whole period covered by this response. Earlier numbers have been revised from previous publications or FOI responses following the resubmission of data from some firms.
We had carried out selected cleansing to filter out extreme outlier values that are likely to have been misreported for the consumer credit - high-cost short-term credit lending data[3] report (the report). This resulted in the exclusion of up to around 5% of submitted transactions depending on the data being analysed. We had not included some transactions featured in the PSD dataset where we think the data quality is compromised and publishing would be misleading. For this response we have not carried out the full data cleansing performed for the report. We have, however, excluded clearly erroneous transactions which would substantively skew the aggregate data.