Second charge mortgage new business volumes grew by 176% in April

7th June 2021

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 176% in April 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 second charge mortgage market returned to growth in April in line with expectations given the adverse impact of the first lockdown on new business levels in the second quarter of 2020. The market is expected to record a strong recovery in new business levels during the second half of 2021.”

New second charge mortgage lending

	Apr 2021	% change on prev. year	3 months to Apr 2021	% change on prev. year	12 months to Apr 2021	% change on prev. year
Value of new business (£m)	81	154	236	2	684	-43
Number of new agreements (No.)	1,890	176	5,547	7	16,620	-38

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Second charge mortgage new business volumes grew by 176% in April

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