11 March 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 continued its recovery in January with further strong growth in new business volumes. This market helps consumers in a variety of ways, including home improvements, and will continue to do so as households face increasing pressure on disposable incomes over the coming months.”
Table 1: New second charge mortgage lending
|
Jan 2022 |
% change on prev. year |
3 months to Jan 2022 |
% change on prev. year |
12 months to Jan 2022 |
% change on prev. year |
Value of new business (£m) |
91 |
56 |
305 |
52 |
1,143 |
62 |
Number of new agreements (No.) |
2,116 |
57 |
6,874 |
41 |
26,642 |
57 |
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.