New figures released by the Finance & Leasing Association (FLA) show that new business figures for the second charge mortgage market in January continued to show growth.

Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported growth in January, with new business up 8% by value and 13% by volume compared with the same period in 2017. The sector is continuing its work in ensuring that the new regulatory regime is fully implemented.”

Table 1: New second charge mortgage lending

Jan 2018

% change on prev. year

3 months to Jan2018

% change on prev. year

12 months to Jan2018

% change on prev. year

Value of new business (£m)

76

+8

234

+5

1,029

+16

Number of new agreements (No.)

1,645

+13

5,118

+5

22,130

+12