New figures released today by the Finance & Leasing Association (FLA) show that the  Second charge mortgage new business volumes grew by 149% in July 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 strong recovery reported by the second charge mortgage market in recent months continued in July as new business reached its highest level since February 2020. We expect to see further growth this year as the market returns to pre-pandemic levels of new business.”

New second charge mortgage lending

Jul 2021

% change on prev. year

3 months to Jul 2021

% change on prev. year

12 months to Jul 2021

% change on prev. year

Value of new business (£m)

101

153

279

217

894

-11

Number of new agreements (No.)

2,433

149

6,396

198

21,359

-8