New figures released today by the Finance & Leasing Association (FLA) show that the Second charge mortgage market has reported volumes increased by 12% in August.

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Acting Director General and Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market recorded its twelfth consecutive month of double-digit new business growth in August.  In the first eight months of 2019, new business volumes were 21% higher than in the same period in 2018.”

Table 1: New second charge mortgage lending

Aug 2019

% change on prev. year

3 months to Aug 2019

% change on prev. year

12 months to Aug 2019

% change on prev. year

Value of new business (£m)

102

+10

321

+14

1,191

+17

Number of new agreements (No.)

2,343

+12

7,272

+16

26,695

+19