Second charge mortgage new business volumes up by 19% in 2019

13 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)







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 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.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.

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