Second charge mortgage new business stable in Q1 2018

11 May 2018

New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business fell 10% by value and 13% by volume in March, compared with the same month in 2017. In Q1 2018 as a whole, new business increased 1% by volume compared with the same quarter in 2017.

Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said:

“March was a quieter month for the consumer credit markets in general. These latest figures show a stable picture for new business volumes in the first quarter overall.”

Table 1: New second charge mortgage lending


Mar 2018

% change on prev. year

3 months to Mar 2018

% change on prev. year

12 months to Mar 2018

% 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 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.

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