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 second charge mortgage market reported its eighth consecutive month of new business volumes growth in November as the market continued its recover from the impacts of the pandemic. New business volumes in 2021 as a whole are expected to be 16% below the pre-pandemic peak.”

Table 1: New second charge mortgage lending

 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.