New figures released by the Finance & Leasing Association (FLA) have shwon thatsecond charge mortgage have shown that new business volumes up by 8% in April

Commenting on the April 2018 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 reported new business growth of 2% by value and 8% by volume in April, compared with the same period in 2017. In the three months to April 2018, the number of new second charge mortgages was 5,339, unchanged on the same period in 2017.”

“This versatile product continues to prove popular with customers.”

Table 1: New second charge mortgage lending

Apr2018

% change on prev. year

3 months to Apr2018

% change on prev. year

12 months to Apr2018

% change on prev. year

Value of new business (£m)

83

+2

251

-2

1,025

+11

Number of new agreements (No.)

1,771

+8

5,339

0

22,145

+9

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