Second charge mortgage new business volumes increase by 5% in July

New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes up by 5% in July.

Commenting on the July 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 “The second charge mortgage market made a positive start to the third quarter, with new business in July up 6% by value and 5% by volume.  The number of new agreements in this market grew by 2% in the first seven months of 2018, in line with expectations of modest single-digit growth in 2018 overall.”

Table 1: New second charge mortgage lending

	Jul 2018	% change on prev. year	3 months to Jul2018	% change on prev. year	12 months to Jul2018	% change on prev. year
Value of new business (£m)	98	+6	277	-1	1,024	+4
Number of new agreements (No.)	2,162	+5	6,090	+2	22,245	+4