Second charge mortgages increased by 10% in August

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 10% in August 2025.

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 to report double-digit growth in August but at a slower rate than in recent months.  In the eight months to August 2025, new business volumes were 12% higher than in the same period in 2024.

“The proportion of new business volumes which were solely for the consolidation of existing loans increased in August to 59.4%, the highest proportion so far this year.”

New second charge mortgage lending

	Aug 2025	%  change on prev. year	3 months to Aug 2025	% change on prev. year	12 months to Aug 2025	% change on prev. year
Value of new business (£m)	176	16	554	20	1,937	23
Number of new agreements (No.)	3,459	10	10,827	14	38,614	16