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:
- 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.