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

 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.