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:
- 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 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.
- For media enquiries, please contact the FLA press office on 020 7420 9656.