Second charge mortgages increase by 15% in June

Second charge mortgage market reports volumes up by 15% in June according to the latest figures released by the Finance & Leasing Association (FLA).

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 reported new business volumes of more than 13,300 agreements in the first six months of 2019, the strongest first half-year performance in more than a decade.

“Consumers are finding second charge mortgages to be a useful product that supports the current trend of improving rather than moving.”

Table 1: New second charge mortgage lending

	Jun 2019	% change on prev. year	3 months to Jun 2019	% change on prev. year	12 months to Jun 2019	% change on prev. year
Value of new business (£m)	105	+15	311	+19	1,165	+14
Number of new agreements (No.)	2,273	+15	6,849	+20	25,958	+17