New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 40% in January 2021

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The fall in new business volumes in January is not surprising given the lockdown restrictions currently in place. We expect demand in this market to increase significantly during 2021 as consumer confidence improves.”

New second charge mortgage lending

Jan 2021

% change on prev. year

3 months to Jan 2021

% change on prev. year

12 months to Jan 2021

% change on prev. year

Value of new business (£m)

56

-46

193

-38

680

-46

Number of new agreements (No.)

1,302

-40

4,685

-31

16,243

-42