Second charge mortgages grew by 24% in January

21st March 2025

New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 24% in January.

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 made a positive start to 2025, with double-digit growth in new business by value and volume.

“The distribution of new business by purpose of loan in January 2025 showed that the proportion of new agreements which were for the consolidation of existing loans at 58.5%; for home improvements and the consolidation of existing loans at 23.0%; and for home improvements only at 12.2%.”

New second charge mortgage lending

Jan 2025

change on prev. year

3 months to Jan 2025

% change on prev. year

12 months to Jan 2025

% change on prev. year

Value of new business (£m)

146

434

1,759

Number of new agreements (No.)

2,907

8,515

36,267

Create your Account:

1. Please fill in the boxes below with your email, tick the relevant newsletters you would like to subscribe to and click the Sign Up button.

2. Wait for the double opt-in page to open and confirm your email address.

3. You have subscribed and have agreed to receive the newsletters.

Credit Connect Media is committed to reserving your right to privacy. By using our website and services you consent to our collection and use of your information as described in or privacy policy.

Credit Connect Media has set up a network of business partners whose products and services may be interesting and useful to you. They may contact you from time to time. By subscribing you confirm that you agree to our Terms & Conditions statement.

Second charge mortgages grew by 24% in January

Related Posts

Login