6 November 2019
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Interim Director General of the FLA, said:
“The second charge mortgage market reported another month of double-digit growth, with the latest annual new business volumes reaching more than 27,000, a decade-high.
"Second charge mortgages are proving to be a popular product with consumers. While the market has returned a strong performance so far in 2019, new business volumes remain well below pre-crisis levels.”
Table 1: New second charge mortgage lending
|
Sep 2019 |
% change on prev. year |
3 months to Sep 2019 |
% change on prev. year |
12 months to Sep 2019 |
% change on prev. year |
Value of new business (£m) |
105 |
+18 |
321 |
+15 |
1,207 |
+17 |
Number of new agreements (No.) |
2,355 |
+20 |
7,354 |
+18 |
27,092 |
+20 |
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.