Second charge mortgage increased by 22% in May

New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage market reports volumes up by 22% in May.

Commenting on the May 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 “The second charge mortgage market remained buoyant in May, as monthly new business reached more than £100 million for the second time this year.”

Table 1: New second charge mortgage lending

	May 2019	% change on prev. year	3 months to May 2019	% change on prev. year	12 months to May 2019	% change on prev. year
Value of new business (£m)	108	+23	315	+22	1,152	+12
Number of new agreements (No.)	2,378	+22	6,968	+26	25,670	+16