New figures released by the Finance & Leasing Association (FLA) show a growth in new business of second charge mortgages in November 2017.

Commenting on the new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The second charge mortgage market reported further modest growth in November, and in the first 11 months of 2017, new business volumes increased by 11% compared with the same period in 2016.”

“Lenders remain focused on fully embedding the new regime, which sees first and second charge mortgages regulated on the same basis.”

Table 1: New second charge mortgage lending

Nov2017

% change on prev. year

3 months to Nov2017

% change on prev. year

12 months to Nov2017

% change on prev. year

Value of new business (£m)

80

+3

242

+8

996

+13

Number of new agreements (No.)

1,815

+2

5,388

+6

21,288

+9