Second charge mortgages increased by 18% in January

New figures released by the Finance & Leasing Association (FLA) show that the consumer that the second charge mortgage market reports volumes up by 18% in January

Commenting on the January 2019 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 an impressive start to 2019, with new business up 12% by value and 18% by volume in January, compared with the same month in 2018.”

“This is a strong performance, and as most of the market is broker-introduced, it also suggests that knowledge of second charge mortgages among brokers is growing.”

Table 1: New second charge mortgage lending

	Jan 2019	% change on prev. year	3 months to Jan 2019	% change on prev. year	12 months to Jan 2019	% change on prev. year
Value of new business (£m)	85	+12	264	+13	1,078	+5
Number of new agreements (No.)	1,945	+18	6,015	+18	23,829	+8