Asset Finance


Consumer Finance


Motor Finance


Second charge mortgage market growth continues in April

9 June 2017

Commenting on the April 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:

“This is a strong performance compared with the same month last year, but it’s important to remember that some of the growth in new business in April will be attributable to the fact that second charge mortgage providers had a relatively quiet month in April 2016. They had just been transferred into the Financial Conduct Authority’s MCOB regime and were still bedding in their systems.

“Second charge mortgages are a useful way for consumers to fund home improvements or provide the deposit for a son or daughter’s first home.”

Table 1: New second charge mortgage lending

Apr 2017

% change on prev. year

3 months to Apr 2017

% change on prev. year

12 months to Apr 2017

% change on prev. year

Value of new business (£m)

79

+53

248

+13

899

+2

Number of new agreements (No.)

1,581

+36

5,151

+10

19,601

-5

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 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2016.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.