Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) indicated that second charge mortgage new business volumes grew by 36% in December and by 44% in 2021.
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 has reported a sustained recovery in new business volumes since April 2021. There is still room for growth as new business remains 16% lower by value and 14% lower by volume than in 2019.”
New second charge mortgage lending
|
Dec 2021 |
% change on prev. year |
3 months to Dec 2021 |
% change on prev. year |
12 months to Dec 2021 |
% change on prev. year |
|
| Value of new business (£m) |
99 |
53 |
323 |
52 |
1,110 |
47 |
| Number of new agreements (No.) |
2,174 |
36 |
7,301 |
38 |
25,877 |
44 |
