Latest figures from the Finance & Leasing Association (FLA) have shown that there is modest growth in second charge mortgage volumes in May.

Commenting on the May 2018 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 May figures are consistent with the stable performance reported by the market in 2018 so far and are also in line with the performance of the wider mortgage market which reported new business steady in the first five months of 2018.”

Table 1: New second charge mortgage lending

May2018

% change on prev. year

3 months to May2018

% change on prev. year

12 months to May2018

% change on prev. year

Value of new business (£m)

88

-1

258

-3

1,025

+9

Number of new agreements (No.)

1,943

+2

5,547

-1

22,200

+8