12 September 2019
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
βIn July, the second charge mortgage market reported its highest monthly new business volumes since October 2008.
βThe popularity of second charge finance is continuing to grow, with consumers increasingly using it to fund property extensions and other home improvements.β
Table 1: New second charge mortgage lending
|
Jul 2019 |
% change on prev. year |
3 months to Jul 2019 |
% change on prev. year |
12 months to Jul 2019 |
% change on prev. year |
Value of new business (£m) |
115 |
+17 |
327 |
+18 |
1,182 |
+15 |
Number of new agreements (No.) |
2,656 |
+23 |
7,307 |
+20 |
26,452 |
+19 |
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.