Commenting on the September 2017 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 fall in new business volumes in September comes amid subdued consumer confidence which has affected the housing market as a whole. It follows six consecutive months of growth in second charge mortgage new business volumes which grew by 11% in the first nine months of 2017 to 16,043.”

“Lenders are continuing to embed the new regulatory regime which puts first and second charge mortgage regulation on the same footing.”

Table 1: New second charge mortgage lending

Sep 2017

% change on prev. year

3 months to Sep2017

% change on prev. year

12 months to Sep2017

% change on prev. year

Value of new business (£m)

77

0

259

+16

979

+10

Number of new agreements (No.)

1,693

-2

5,594

+11

20,951

+4

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