New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage market reports volumes up by 22% in May.

Commenting on the May 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 remained buoyant in May, as monthly new business reached more than £100 million for the second time this year.”

Table 1: New second charge mortgage lending

May 2019

% change on prev. year

3 months to May 2019

% change on prev. year

12 months to May 2019

% change on prev. year

Value of new business (£m)

108

+23

315

+22

1,152

+12

Number of new agreements (No.)

2,378

+22

6,968

+26

25,670

+16