Finance & Leasing Association14 April 2020
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market made a positive start to 2020, but the mortgage market faces serve disruption from the impact of the coronavirus on the economy.
“Lenders are doing their best to support customers during these unprecedented times, and any customer facing repayment difficulties due to the Coronavirus should contact their lender as soon as possible to discuss the help they need.”
Table 1: New second charge mortgage lending
|
|
Feb 2020 |
% change on prev. year |
3 months to Feb 2020 |
% change on prev. year |
12 months to Feb 2020 |
% change on prev. year |
| Value of new business (£m) |
107 |
9 |
305 |
16 |
1,278 |
18 |
| Number of new agreements (No.) |
2,435 |
13 |
6,671 |
13 |
28,512 |
18 |
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 2019, FLA members provided £140 billion of new finance to UK businesses and households. £105 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2019.
- For media enquiries, please contact the FLA press office on 020 7420 9656.
