Second charge mortgage new business volumes up by 5% in July

Commenting on the July 2018 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 the third quarter, with new business in July up 6% by value and 5% by volume.  The number of new agreements in this market grew by 2% in the first seven months of 2018, in line with expectations of modest single-digit growth in 2018 overall.” 

Table 1: New second charge mortgage lending

 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 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.