Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:

“The second charge mortgage market continued to suffer from the closure of the housing market during the lockdown in April. As restrictions are lifted, FLA’s second charge mortgage members are ready to support new demand and continue to provide the necessary forbearance customers require.

 “Lenders are continuing to do all they can to support customers during this challenging period and customers experiencing payment difficulties should contact their lender as soon as possible.”   

 Table 1: New second charge mortgage lending

 Note to editors: 

1. FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
2. In 2019, FLA members provided £140 billion of new finance to UK businesses and households. £105 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2019.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.