Second charge mortgage market sees 11% increase in September

New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market saw an 11% increase in September

Commenting on the September 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 September, the second charge mortgage market reported its strongest rate of new business volumes growth since January.  New business volumes have grown by 4% so far in 2018, in line with expectations of single-digit growth in 2018 overall.”

Table 1: New second charge mortgage lending

	Sep 2018	% change on prev. year	3 months to Sep 2018	% change on prev. year	12 months to Sep 2018	% change on prev. year
Value of new business (£m)	89	+11	279	+5	1,031	+3
Number of new agreements (No.)	1,958	+11	6,220	+7	22,555	+5