Latest figures released by the Finance Leasing Association (FLA) indicate that second charge mortgage lending grew by 5% in October.

Commenting on the October 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 “In October, the second charge mortgage market recorded its strongest rate of new business volumes growth so far in 2018.  With new business volumes up by 5% in the ten months to October 2018, we continue to expect single-digit growth in 2018 overall.”

Table 1: New second charge mortgage lending

Oct 2018% change on prev. year3 months to Oct 2018% change on prev. year12 months to Oct 2018% change on prev. year
Value of new business (£m)104+19285+91,048+3
Number of new agreements (No.)2,319+196,377+1222,932+5