Freedom lends £15.3m in February

In response to the growing consumer credit market, Manchester-based Freedom Finance has increased its workforce by 10% in the past month alone.

Nicola Georgiou, managing director of Freedom Finance, said: “Increased competition and the rise of challenger banks has meant that lenders are now able to offer better options for borrowers.

“Overall our loans volume has increased by more than 50% since June last year and we see this as an indication that consumer confidence is continuing to boom and that the economy is firmly on the path to recovery.”

Freedom Finance uses a soft search loan system, which finds the best rate for individual circumstances rather than having a detrimental impact on their credit rating, in contrast to a traditional comparison site.