Commenting on the January 2019 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 made an impressive start to 2019, with new business up 12% by value and 18% by volume in January, compared with the same month in 2018.

 “This is a strong performance, and as most of the market is broker-introduced, it also suggests that knowledge of second charge mortgages among brokers is growing.”    

 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 £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.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.