Second charge mortgage new business grows by 103%

12th October 2021

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 103% in August 2021

“The second charge mortgage market continued its recovery from the pandemic in August. The market has reported more normal levels of new business in recent months which we expect to continue in the final quarter of 2021.”

New second charge mortgage lending

Aug 2021

% change on prev. year

3 months to Aug 2021

% change on prev. year

12 months to Aug 2021

% change on prev. year

Value of new business (£m)

95

118

297

168

956

1

Number of new agreements (No.)

2,314

103

7,054

154

22,880

5