Second charge mortgage market reports volumes up by 23% in July

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:

 β€œIn July, the second charge mortgage market reported its highest monthly new business volumes since October 2008.

 β€œThe popularity of second charge finance is continuing to grow, with consumers increasingly using it to fund property extensions and other home improvements.”

 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)







Number of new agreements (No.)







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




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