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:

“A sustained period of growth by the second charge mortgage market has seen it return to more normal monthly levels of new business. We expect new business volumes to continue to grow despite heightened economic uncertainty over the coming months.” 

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