New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes up by 19% in 2019.
Commenting on the full year 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 double-digit growth in each month of 2019. New business volumes reached over 28,000 agreements in 2019, which was the highest annual total since 2008.”
“Although still a relatively small sector, second charge mortgages are proving popular with consumers and we expect the market to continue to grow in 2020.”
New second charge mortgage lending
Dec 2019 |
% change on prev. year |
3 months to Dec 2019 |
% change on prev. year |
12 months to Dec 2019 |
% change on prev. year |
|
Value of new business (£m) |
94 |
19 |
327 |
17 |
1,251 |
18 |
Number of new agreements (No.) |
2,068 |
16 |
7,319 |
15 |
28,016 |
19 |