Second charge mortgage market increased by 31% in March

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage market new business volumes increased by 31% in March.

Commenting on the March 2019 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “In March, the second charge mortgage market reported its highest level of monthly new business volumes since October 2008.”

“It is a competitive and innovative market for consumers, with a growing number of broker partners.”

Table 1: New second charge mortgage lending

	Mar 2019	% change on prev. year	3 months to Mar 2019	% change on prev. year	12 months to Mar 2019	% change on prev. year
Value of new business (£m)	108	+25	292	+19	1,116	+9
Number of new agreements (No.)	2,392	+31	6,500	+25	24,812	+13