8 February 2019
Commenting on the December 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:
“December saw the market report its sixth consecutive month of growth, contributing to solid single-digit new business growth in 2018 as a whole.
“The second charge mortgage market is expected to see further single-digit new business growth in 2019 overall.”
Table 1: New second charge mortgage lending
|
Dec 2018 |
% change on prev. year |
3 months to Dec 2018 |
% change on prev. year |
12 months to Dec 2018 |
% change on prev. year |
Value of new business (£m) |
80 |
+6 |
283 |
+16 |
1,069 |
+4 |
Number of new agreements (No.) |
1,792 |
+13 |
6,389 |
+18 |
23,529 |
+7 |
Note to editors:
- 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.
- In 2018, FLA members provided £137 billion of new finance to UK businesses and households. £104 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.
- For media enquiries, please contact the FLA press office on 020 7420 9656.