Second charge mortgage new business volumes grow by 57%

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grow by 57% in January 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 continued its recovery in January with further strong growth in new business volumes. This market helps consumers in a variety of ways, including home improvements, and will continue to do so as households face increasing pressure on disposable incomes over the coming months.”

New second charge mortgage lending

	Jan 2022	%  change on prev. year	3 months to Jan 2022	% change on prev. year	12 months to Jan 2022	% change on prev. year
Value of new business (£m)	91	56	305	52	1,143	62
Number of new agreements (No.)	2,116	57	6,874	41	26,642	57