5 July 2019
Second charge mortgage market reports volumes up by 22% in May
Commenting on the May 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 remained buoyant in May, as monthly new business reached more than £100 million for the second time this year.”
Table 1: New second charge mortgage lending
|
May 2019 |
% change on prev. year |
3 months to May 2019 |
% change on prev. year |
12 months to May 2019 |
% change on prev. year |
Value of new business (£m) |
108 |
+23 |
315 |
+22 |
1,152 |
+12 |
Number of new agreements (No.) |
2,378 |
+22 |
6,968 |
+26 |
25,670 |
+16 |
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.