Asset Finance


Consumer Finance


Motor Finance


Second charge mortgage new business volumes grow in January

21 March 2018

Commenting on the January 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 January, with new business up 8% by value and 13% by volume compared with the same period in 2017. 

“The sector is continuing its work in ensuring that the new regulatory regime is fully implemented.”

Table 1: New second charge mortgage lending

 

Jan 2018

% change on prev. year

3 months to Jan 2018

% change on prev. year

12 months to Jan 2018

% change on prev. year

Value of new business (£m)

76

+8

234

+5

1,029

+16

Number of new agreements (No.)

1,645

+13

5,118

+5

22,130

+12

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.