Second charge mortgage market reports volumes up by 6% in August

Commenting on the August 2018 new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said:

“The second charge mortgage market has reported new business growth in six out of eight months so far in 2018.  With the number of new agreements in this market up by 3% in the first eight months of 2018, we continue to expect single-digit growth in 2018 as a whole.”

 Table 1: New second charge mortgage lending

 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.