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Consumer Finance


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Second charge mortgage market reports modest fall in June

15 August 2018

Commenting on the June 2018 new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said:

 “The second charge mortgage market reported new business volumes up in the first half of 2018 by 2%, compared with the same period in 2017. This was in line with stable new business volumes reported by the wider mortgage market over the same period.”

Table 1: New second charge mortgage lending

 

Jun 2018

% change on prev. year

3 months to Jun 2018

% change on prev. year

12 months to Jun 2018

% change on prev. year

Value of new business (£m)

91

-6

262

-2

1,019

+6

Number of new agreements (No.)

1,985

-3

5,703

+2

22,142

+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 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.