Finance & Leasing Association28 January 2020
Commenting on the November 2019 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 reported a fifteenth consecutive month of double-digit new business volumes growth in November. The average value of second charge mortgages in November grew by 3% compared with the same month in 2018 to £44,530.”
Table 1: New second charge mortgage lending
|
|
Nov 2019 |
% change on prev. year |
3 months to Nov 2019 |
% change on prev. year |
12 months to Nov 2019 |
% change on prev. year |
| Value of new business (£m) |
116 |
17 |
338 |
16 |
1,238 |
16 |
| Number of new agreements (No.) |
2,594 |
14 |
7,607 |
16 |
27,747 |
19 |
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 2018, FLA members provided £136 billion of new finance to UK businesses and households. £103 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2018.
- For media enquiries, please contact the FLA press office on 020 7420 9656.
