Second charge mortgage market reports volumes up by 21% in November

11 January 2019

Commenting on the November 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:

“The market has reported a relatively strong performance in recent months following a steady first half of 2018.  The second charge mortgage market is likely to report solid single-digit new business volumes growth in 2018 overall.”

Table 1: New second charge mortgage lending

 

Nov 2018

% change on prev. year

3 months to Nov 2018

% change on prev. year

12 months to Nov 2018

% change on prev. year

Value of new business (£m)

99

+21

292

+17

1,064

+4

Number of new agreements (No.)

2,282

+21

6,559

+17

23,325

+6

 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 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.

 

Become a member

What are the benefits of becoming an FLA Member?