5 July 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 second charge mortgage market reported a second consecutive month of growth in May, and new business volumes increased by 12% in the first five months of 2021. The improvement in consumer confidence means the market expects to see the recovery in new business continue during the second half of 2021.”
Table 1: New second charge mortgage lending
|
May 2021 |
% change on prev. year |
3 months to May 2021 |
% change on prev. year |
12 months to May 2021 |
% change on prev. year |
Value of new business (£m) |
84 |
309 |
253 |
74 |
784 |
-33 |
Number of new agreements (No.) |
1,910 |
293 |
5,848 |
82 |
18,044 |
-27 |
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.