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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 48% in April 2022
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported another strong performance in April, with annual new business volumes only 4% below the pre-pandemic peak. Of the total new agreements written in April, 53% were for the consolidation of existing loans, 16% for home improvements, and a further 25% were for both loan consolidation and home improvement.”
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
New second charge mortgage lending
|
Apr 2022 |
% change on prev. year |
3 months to Apr 2022 |
% change on prev. year |
12 months to Apr 2022 |
% change on prev. year |
|
| Value of new business (£m) |
127 |
54 |
385 |
58 |
1,285 |
83 |
| Number of new agreements (No.) |
2,802 |
48 |
8,520 |
49 |
29,432 |
72 |
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