9 April 2021
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said:
“The UK lockdown restrictions over the winter months contributed to a fall of a third in second charge mortgage new business volumes. As consumer confidence improves and the economy re-opens, we expect to see a strong rebound in demand in this market.”
Table 1: New second charge mortgage lending
|
Feb 2021 |
% change on prev. year |
3 months to Feb 2021 |
% change on prev. year |
12 months to Feb 2021 |
% change on prev. year |
Value of new business (£m) |
67 |
-37 |
185 |
-39 |
640 |
-50 |
Number of new agreements (No.) |
1,609 |
-34 |
4,437 |
-33 |
15,417 |
-46 |
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 2020, FLA members provided £113 billion of new finance to UK businesses and households. £86 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2020.
- For media enquiries, please contact the FLA press office on 020 7420 9656.