Asset Finance


Consumer Finance


Motor Finance


Growth in second charge lending continues in February

6 April 2018

Commenting on the February 2018 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 reported growth in February, with new business up 4% by value and 9% by volume, compared with the same period in 2017.

“February saw an increase in the number of customers taking out a secured loan, which are often used to fund home improvements or deposits on a second property.”

Table 1: New second charge mortgage lending

 

Feb 2018

% change on prev. year

3 months to Feb 2018

% change on prev. year

12 months to Feb 2018

% change on prev. year

Value of new business (£m)

81

+4

233

+5

1,032

+17

Number of new agreements (No.)

1,742

+9

4,971

+7

22,270

+14

 

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 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.