Second charge mortgage market reports volumes up by 12% in August

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

“The second charge mortgage market recorded its twelfth consecutive month of double-digit new business growth in August.  In the first eight months of 2019, new business volumes were 21% higher than in the same period in 2018.”

 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 2018, FLA members provided £136 billion of new finance to UK businesses and households. £103 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2018.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.