5 November 2021
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 reported its sixth consecutive month of growth in September, with new business returning to levels seen pre-pandemic. We expect new business volumes to continue to grow during the remainder of 2021 as demand remains solid.”
Table 1: New second charge mortgage lending
|
Sep 2021 |
% change on prev. year |
3 months to Sep 2021 |
% change on prev. year |
12 months to Sep 2021 |
% change on prev. year |
Value of new business (£m) |
102 |
78 |
298 |
112 |
1,000 |
12 |
Number of new agreements (No.) |
2,438 |
67 |
7,185 |
101 |
23,866 |
16 |
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 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.
- For media enquiries, please contact the FLA press office on 020 7420 9656.