New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market reports volumes up by 24% in April.

Commenting on the April 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 “In April, the second charge mortgage market reported its eighth consecutive month of double-digit new business growth.”

“This is a great performance for what is an increasingly popular product.”

Table 1: New second charge mortgage lending

Apr 2019

% change on prev. year

3 months to Apr 2019

% change on prev. year

12 months to Apr 2019

% change on prev. year

Value of new business (£m)

102

+23

309

+23

1,135

+11

Number of new agreements (No.)

2,206

+24

6,761

+26

25,243

+14