Second charge mortgage new business increased by 13% in February

14th April 2020

New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes up by 13% in February 2020

Commenting on the latest 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 made a positive start to 2020, but the mortgage market faces serve disruption from the impact of the coronavirus on the economy.”

“Lenders are doing their best to support customers during these unprecedented times, and any customer-facing repayment difficulties due to the Coronavirus should contact their lender as soon as possible to discuss the help they need.”

Table 1: New second charge mortgage lending

	Feb 2020	% change on prev. year	3 months to Feb 2020	% change on prev. year	12 months to Feb 2020	% change on prev. year
Value of new business (£m)	107	9	305	16	1,278	18
Number of new agreements (No.)	2,435	13	6,671	13	28,512	18

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Second charge mortgage new business increased by 13% in February

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