Second charge mortgage increased 24% in April

7th June 2019

New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market reports volumes up by 24% in April.

Commenting on the April 2019 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 April, the second charge mortgage market reported its eighth consecutive month of double-digit new business growth.”

“This is a great performance for what is an increasingly popular product.”

Table 1: New second charge mortgage lending

	Apr 2019	% change on prev. year	3 months to Apr 2019	% change on prev. year	12 months to Apr 2019	% change on prev. year
Value of new business (£m)	102	+23	309	+23	1,135	+11
Number of new agreements (No.)	2,206	+24	6,761	+26	25,243	+14

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Second charge mortgage increased 24% in April

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