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V12 Retail Finance Q3 Data Shows Home Improvement Finance More Than Doubling



New quarterly data from V12 Retail Finance shows that UK consumers continued to turn to point-of-sale finance for high-value purchases in the third quarter of 2026. Total finance values across the platform grew 7% between July and September compared with Q3 2025, and were almost 20% higher than in the same period of 2024.


The quarter got off to a challenging start as prolonged hot weather and a busy international sporting calendar disrupted normal shopping patterns in July. However, each month of the quarter was ahead of the same month in 2025, and demand strengthened as the summer went on. As in the first half of the year, growth came mainly from categories linked to the home, health and practical everyday purchases. This suggests that households remain willing to commit to significant spending, but continue to be selective about where they do so.


Andrew Phillips, Managing Director of V12 Retail Finance said:

"The third quarter shows a consumer who is still willing to spend on what matters most, even when the backdrop is far from straightforward. July was a difficult month for many retailers, but demand held up and strengthened through August and September."

"The standout trend is the continued investment households are making in their homes. Home improvement finance more than doubled year on year in the quarter, and that reflects a broader shift we have been tracking for some time, as people choose to improve the homes they already have rather than move."


"Consumers remain cautious about the wider economic picture, and we expect them to stay selective. But the strength and breadth of demand across our portfolio gives us confidence as retailers head into Black Friday and the Christmas trading period."


Home improvements emerge as the defining trend of 2026

Home Improvements was a standout performer in V12’s portfolio in Q3. Finance values rose by around 112% year on year, and the pace of growth increased each month. Values were up approximately 56% in July, 107% in August and 163% in September.


The category has now grown almost fourfold in quarterly value since Q3 2024, and now accounts for around 7% of total finance values, compared with less than 4% in the same period last year. Across the first nine months of 2026, home improvement finance values are up by around 73% year on year. This builds on the multi-year pattern of increased investment in property-related projects that V12's earlier data releases highlighted.


Furniture remains the anchor of demand

Furniture remained the largest category by a significant margin, accounting for close to 49% of all finance values in Q3 2026. Finance values held broadly stable, rising around 1.5% year on year on what had been a strong Q3 2025.


Performance varied through the quarter, with July softer as warm weather reduced footfall, particularly at retail park locations. August was a stronger month for the category, with finance values rising nearly 9% year on year as cooler temperatures and Bank Holiday promotional activity brought customers back to stores. On August Bank Holiday Monday alone, applications approved across V12's portfolio rose by almost 40% compared with the same day in 2025, with furniture retailers making a significant contribution.


Healthcare and practical categories continue to grow

Healthcare and dental finance values rose by around 6% year on year, and are up by more than a third compared with Q3 2024. The category accounted for around 12% of V12's total finance values in the quarter. This reflects continued consumer willingness to invest in dental and elective treatment, supported by the expansion of V12's healthcare provider network.


Growth was also strong across several practical and lifestyle categories. Consumer electrical finance values more than doubled year on year, rising by around 126%. Cycles grew by around 24%, with double-digit growth in every month of the quarter. Motor finance rose by close to 6%.


Signs of stabilisation in discretionary categories

In Q1, discretionary luxury categories were under pressure. In Q3, there were early signs that this pressure is beginning to ease. Jewellery, the second largest sector by value, returned to growth, with finance values rising nearly 3% year on year. This marks a positive step after a softening trend that had been evident since mid-2024.


Other discretionary categories remained more subdued. Art saw a decline of close to 8%, while music was broadly flat. This suggests that while sentiment around non-essential purchases may be improving, households are still exercising restraint in some areas.


Retailer network continues to expand

V12's retailer network continued to grow during the quarter. The most significant milestone was the launch of V12's partnership with Magnet, which went live across all 150 Magnet stores in July and made a strong early contribution to the growth in home improvement finance. The sector also benefited from continued growth among retailers introduced through broker partners.


"What has been particularly encouraging this quarter is how broad the growth has been," added Andrew Phillips.

"We have seen strength in our largest categories, in healthcare and in practical purchases, and early signs of recovery in jewellery. Combined with the momentum in home improvements and new partnerships such as Magnet, that gives us a solid platform as we move into the busiest trading period of the year."

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V12 Retail Finance Q3 Data Shows Home Improvement Finance More Than Doubling

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Aug 21, 2023
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Bramble Energy, an innovator in fuel cell technology, has announced the opening of its new state-of-the-art headquarters in Crawley, West Sussex. The expansive new facility, which includes a world-leading hydrogen innovation and development hub, is a multi-million-pound investment representing the company’s extraordinary growth since launching in 2016.


Founded as a university spin-out, then developed in the garage of co-founder and CEO Dr Tom Mason, Bramble Energy has rapidly gained momentum with its revolutionary fuel cell technology based on cutting-edge printed circuit board (PCB) technology. The remarkable business growth has led to the demand for a larger facility that can accommodate Bramble Energy's projected expansion and support the scale up of its technology to transform the hydrogen fuel cell industry.


The facility, Atrium Court, spans almost 34,000 square feet, more than three times the size of its previous premises. The sprawling facility is prepared to accommodate Bramble Energy’s growing workforce, which has increased tenfold from just eight staff in 2020 to over 80 today.


At the heart of Atrium Court lies the Hydrogen Innovation Hub, a world-leading research, development, and testing facility dedicated to hydrogen fuel cells, electrolysers and sensors. The facility can support every element of their technology development and critically, scale it up. Concepts can be taken through from the R&D phase all the way up to production-ready technology, as well as test fuel cells producing single digit Watts up to multi kW sizes required to service the heaviest of mobility industries.


Dr Tom Mason, Bramble Energy co-founder and CEO, commented:

“We are extremely proud to move into our new, state-of-the-art headquarters, which represents a major milestone for Bramble Energy. Our success and growth has been phenomenal in a very short amount of time, which is in no small part to our technology but also the support we have received and having a talented and dedicated team."

Our world-leading Hydrogen Innovation Hub at Atrium Court will significantly contribute to levelling up the UK’s hydrogen and fuel cell testing capability. It will play a crucial role in our future development as we revolutionise the shift towards cleaner and sustainable energy solutions.”


Bramble Energy’s breakthrough innovation in hydrogen fuel cell technology and design utilising its PCB-X™ Platform, is solving the key challenges in the production of hydrogen fuel cells and accelerating the hydrogen mobility industry with the world's first printed circuit board (PCB) hydrogen fuel cell. The patent-protected solution means it can design, manufacture, test, and ship a PCB fuel cell in a matter of weeks, at a game-changing significantly lower cost than the typical industry standard.


Financial support has been instrumental in Bramble Energy's growth trajectory. As well as raising equity finance through VCs, UK Government-funded initiatives have been well received. Bramble Energy successfully secured £5 million in funding in July 2020, raised an additional £35 million in February 2022, and in May 2023, was awarded £12 Million in funding from the Advanced Propulsion Centre to provide its fuel cell technology to a hydrogen bus project.


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