22 August 2019
Second charge mortgage market reports volumes up by 15% in June
Commenting on the latest 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 new business volumes of more than 13,300 agreements in the first six months of 2019, the strongest first half-year performance in more than a decade.
“Consumers are finding second charge mortgages to be a useful product that supports the current trend of improving rather than moving.”
Table 1: New second charge mortgage lending
|
Jun 2019 |
% change on prev. year |
3 months to Jun 2019 |
% change on prev. year |
12 months to Jun 2019 |
% change on prev. year |
Value of new business (£m) |
105 |
+15 |
311 |
+19 |
1,165 |
+14 |
Number of new agreements (No.) |
2,273 |
+15 |
6,849 |
+20 |
25,958 |
+17 |
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 £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.
- For media enquiries, please contact the FLA press office on 020 7420 9656.