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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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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.

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Oct 19, 2023
2 min read

England men’s head coach Steve Borthwick has named his team to play South Africa in the semi-finals of the Rugby World Cup 2023 at Stade de France (kick-off 9pm CEST, 8pm BST live on ITV Sport) on Saturday.

Owen Farrell will captain a starting XV with three changes to the side that defeated Fiji 30-24 in Sunday’s quarter-final in Marseille.

In the front row, Joe Marler returns to the loosehead and packs down with Jamie George at hooker and Dan Cole at tighthead. At lock, Maro Itoje partners George Martin, who starts his second game of the Rugby World Cup. An unchanged back row sees vice-captain Courtney Lawes on the blindside flank, Tom Curry at openside and Ben Earl wear the No.8 shirt.

In the half-back berths, Alex Mitchell continues his partnership with last Sunday’s Mastercard player-of-the-match Farrell. In midfield, Manu Tuilagi is named at inside centre, with Joe Marchant at 13.

In the back three, Elliot Daly continues on the left wing, with Jonny May on the right and Freddie Steward returns to the starting XV at full-back.

Hooker Theo Dan, props Ellis Genge (vice-captain) and Kyle Sinckler, together with Ollie Chessum, Billy Vunipola, Danny Care, George Ford (vice-captain) and Ollie Lawrence, make up a strong and experienced replacements bench.

“After an excellent few days preparation in Paris, we look forward to the challenge of playing the World Champions and number one ranked team in the world,” said Borthwick.

“Through this tournament the team has progressed, with the players repeatedly finding a way to win, sometimes in challenging circumstances. We will once again need to be at our very best this weekend as we face an excellent team in South Africa."

“There is no doubt the players will truly relish the challenge of knockout rugby under the lights in Paris. These players will, as they have done in every game of this tournament, give absolutely everything in the semi-final to get the result we want."

“I also know that our supporters will once again be there in their thousands, playing their part in backing the team with a full voice. To all those who have travelled and to all those lending their support and encouragement from home, I say ‘thank you’.”

The team:

15. Freddie Steward (Leicester Tigers, 29 caps)

14. Jonny May (Gloucester Rugby, 77 caps)

13. Joe Marchant (Stade Francais, 24 caps)

12. Manu Tuilagi (Sale Sharks, 57 caps)

11. Elliot Daly (Saracens, 63 caps)

10. Owen Farrell – captain (Saracens, 110 caps)

9. Alex Mitchell (Northampton Saints, 10 caps)

1. Joe Marler (Harlequins, 87 caps)

2. Jamie George (Saracens, 83 caps)

3. Dan Cole (Leicester Tigers, 105 caps)

4. Maro Itoje (Saracens, 74 caps)

5. George Martin (Leicester Tigers, 8 caps)

6. Courtney Lawes – vice-captain (Northampton Saints, 104 caps)

7. Tom Curry (Sale Sharks, 48 caps)

8. Ben Earl (Saracens, 23 caps)

Replacements:

16. Theo Dan (Saracens, 6 caps)

17. Ellis Genge – vice-captain (Bristol Bears, 56 caps)

18. Kyle Sinckler (Bristol Bears, 67 caps)

19. Ollie Chessum (Leicester Tigers, 16 caps)

20. Billy Vunipola (Saracens, 74 caps)

21. Danny Care (Harlequins, 94 caps)

22. George Ford – vice-captain (Sale Sharks, 89 caps)

23. Ollie Lawrence (Bath Rugby, 19 caps)

Photo credit - Image supplied by The RFU for use with this story.



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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.

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