New figures released  by the Finance & Leasing Association (FLA) show that the second charge mortgage market has reported that volumes are up by 20% in September

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Interim Director General of the FLA, said “The second charge mortgage market reported another month of double-digit growth, with the latest annual new business volumes reaching more than 27,000, a decade-high.”

“Second charge mortgages are proving to be a popular product with consumers. While the market has returned a strong performance so far in 2019, new business volumes remain well below pre-crisis levels.”

Table 1: New second charge mortgage lending

Sep 2019

% change on prev. year

3 months to Sep 2019

% change on prev. year

12 months to Sep 2019

% change on prev. year

Value of new business (£m)

105

+18

321

+15

1,207

+17

Number of new agreements (No.)

2,355

+20

7,354

+18

27,092

+20