Finance & Leasing Association13 February 2020
Commenting on the full year 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 double-digit growth in each month of 2019. New business volumes reached over 28,000 agreements in 2019, which was the highest annual total since 2008.
“Although still a relatively small sector, second charge mortgages are proving popular with consumers and we expect the market to continue to grow in 2020.”
Table 1: New second charge mortgage lending
|
|
Dec 2019 |
% change on prev. year |
3 months to Dec 2019 |
% change on prev. year |
12 months to Dec 2019 |
% change on prev. year |
| Value of new business (£m) |
94 |
19 |
327 |
17 |
1,251 |
18 |
| Number of new agreements (No.) |
2,068 |
16 |
7,319 |
15 |
28,016 |
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 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.
