Second charge mortgage new business volumes fell by 40% in January 2021

15 March 2021

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

“The fall in new business volumes in January is not surprising given the lockdown restrictions currently in place. We expect demand in this market to increase significantly during 2021 as consumer confidence improves.”

Table 1: New second charge mortgage lending


Jan 2021

% change on prev. year

3 months to Jan 2021

% change on prev. year

12 months to Jan 2021

% change on prev. year

Value of new business (£m)







Number of new agreements (No.)







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 2020, FLA members provided £113 billion of new finance to UK businesses and households. £86 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2020.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.

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