Second charge mortgage new business volumes grew by 36% in December and by 44% in 2021

14 February 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 has reported a sustained recovery in new business volumes since April 2021. There is still room for growth as new business remains 16% lower by value and 14% lower by volume than in 2019.”

Table 1: New second charge mortgage lending

 

Dec 2021

% change on prev. year

3 months to Dec 2021

% change on prev. year

12 months to Dec 2021

% change on prev. year

Value of new business (£m)

99

53

323

52

1,110

47

Number of new agreements (No.)

2,174

36

7,301

38

25,877

44

 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 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.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.

 

 

 

Become a member

What are the benefits of becoming an FLA Member?