Second charge mortgage new business increase 14% in November 2019

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes increased by 14% in November 2019

Commenting on the November 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 “The second charge mortgage market reported a fifteenth consecutive month of double-digit new business volumes growth in November. The average value of second charge mortgages in November grew by 3% compared with the same month in 2018 to £44,530.”

Table 1: New second charge mortgage lending

	Nov 2019	% change on prev. year	3 months to Nov 2019	% change on prev. year	12 months to Nov 2019	% change on prev. year
Value of new business (£m)	116	17	338	16	1,238	16
Number of new agreements (No.)	2,594	14	7,607	16	27,747	19