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:

“New business volumes in the second charge mortgage market in March reached their highest level since September 2008.  The market helps consumers in a variety of ways, including funding home improvements and by better management of their finances through loan consolidation.

“As always, any customer worried about meeting payments should speak to their lender as soon as possible to find a solution.” 

Table 1: New second charge mortgage lending

 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.