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. 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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Jan 10, 2025

2 min read

Updated: Jan 13, 2025

Williams Racing will unveil its 2025 Formula 1 car on February 14 as the team enters the next stage of its transformation plan in F1’s 75th year.

The FW47 will be revealed to fans, partners and media at a special promotional event at the historic Silverstone circuit, home to the first-ever Formula 1 Championship Grand Prix in 1950. It will appear in a bespoke one-off livery, with the 2025 race livery being revealed on February 18 at the unprecedented F1 season launch at London’s The O2.

In a significant step on the team’s transformation under the ownership of Dorilton Capital, Williams will have one of the most formidable driver line-ups on the grid as four-time race winner Carlos Sainz joins Alex Albon for the 2025 season and beyond.

Williams is an icon of the sport with a glorious history that includes nine Constructors’ World Championships, seven Drivers’ Championships and 114 race wins. The team is investing in the people, technology and infrastructure needed to achieve its long-term mission of returning to the front of the grid and winning multiple World Championships.

James Vowles, Team Principal: “There is a tremendous amount to look forward to for Williams in 2025 – we have fantastic race drivers in Alex and Carlos, top engineers joining from across the grid and new facilities becoming operational at our Grove HQ. As part of our comeback plan, we have been working on our 2025 car for some time and I can’t wait to see it at Silverstone on February 14."

"Everyone in the team is giving everything to get this team back where it belongs as we head towards the major rule changes for 2026. It’s going to be an exciting year.”

Alex Albon: “Everyone at the factory is working hard to get our car ready for the new season. Launching on February 14 should be a great way to start an important year for us as a team, fighting as hard as we can with both cars from the outset this year and looking forward to opportunities ahead in 2026."

"I can’t wait to see the results of the teamwork and dedication that makes this team so special.”

Carlos Sainz: “It’s an important time for the team and we are all going to push to bring Williams back to the front of the grid as soon as possible. I was very impressed with the team back in Abu Dhabi. After a long year, it was great to watch the motivation and effort that everyone put in at such an important test. Thanks to that, we’ve been able to put together a solid plan and we have already started working on it to make sure we are as prepared as possible ahead of the pre-season test and first race."

"We’re not far away from the Silverstone car launch and I can’t wait to see my new ride! 2025 will be an exciting year and we are fully committed to putting together a strong season. VAMOS!”

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

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