Second charge mortgage new business volumes grew by 59% in February 2022

8 April 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:

“In February, the second charge mortgage market reported its highest monthly level of new business volumes for two years and has now returned to pre-pandemic levels of new business by both value and volume.  

“As consumers face higher prices and pressure on disposable incomes, 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


Feb 2022


 change on prev. year

3 months to Feb 2022

% change on prev. year

12 months to Feb 2022

% change on prev. year

Value of new business (£m)







Number of new agreements (No.)







 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.




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