4 August 2022
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 second charge mortgage market continued to report new business growth in June, but at a slower rate than in recent months. Annual new business volumes in June surpassed the pre-pandemic peak for the first time reaching 30,849 new agreements.”
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
Table 1: New second charge mortgage lending
|
Jun 2022 |
% change on prev. year |
3 months to Jun 2022 |
% change on prev. year |
12 months to Jun 2022 |
% change on prev. year |
Value of new business (£m) |
130 |
29 |
390 |
44 |
1,360 |
61 |
Number of new agreements (No.) |
2,854 |
24 |
8,529 |
37 |
30,849 |
52 |
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 2021, FLA members provided £132 billion of new finance to UK businesses and households. £101 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2021.
- For media enquiries, please contact the FLA press office on 020 7420 9656.