Second charge mortgages increased by 21% in November

New figures released today by the Finance & Leasing Association (FLA) show second charge mortgages increased by 21% in November.

Commenting on the November 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 market has reported a relatively strong performance in recent months following a steady first half of 2018.  The second charge mortgage market is likely to report solid single-digit new business volumes growth in 2018 overall.”

Table 1: New second charge mortgage lending

	Nov 2018	% change on prev. year	3 months to Nov 2018	% change on prev. year	12 months to Nov 2018	% change on prev. year
Value of new business (£m)	99	+21	292	+17	1,064	+4
Number of new agreements (No.)	2,282	+21	6,559	+17	23,325	+6