Second charge mortgages increase by 6% in August

New figures released by the Finance & Leasing Association (FLA) show that consumer finance second charge mortgage market reports volumes up by 6% in August

Commenting on the August 2018 new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said “The second charge mortgage market has reported new business growth in six out of eight months so far in 2018.  With the number of new agreements in this market up by 3% in the first eight months of 2018, we continue to expect single-digit growth in 2018 as a whole.”

Table 1: New second charge mortgage lending

	Aug 2018	% change on prev. year	3 months to Aug 2018	% change on prev. year	12 months to Aug 2018	% change on prev. year
Value of new business (£m)	92	-2	282	-1	1,022	+2
Number of new agreements (No.)	2,100	+6	6,247	+3	22,356	+3