Second charge mortgage market increases 12%

New figures released today by the Finance & Leasing Association (FLA) show that the Second charge mortgage market has reported volumes increased by 12% in August.

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Acting Director General and Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market recorded its twelfth consecutive month of double-digit new business growth in August.  In the first eight months of 2019, new business volumes were 21% higher than in the same period in 2018.”

Table 1: New second charge mortgage lending

	Aug 2019	% change on prev. year	3 months to Aug 2019	% change on prev. year	12 months to Aug 2019	% change on prev. year
Value of new business (£m)	102	+10	321	+14	1,191	+17
Number of new agreements (No.)	2,343	+12	7,272	+16	26,695	+19