Second charge mortgage new business volumes grow in January

Michael Lloyd

March 22, 2018

The value of new second charge mortgage lending grew by 8% year-on-year to reach £76m in January 2018, figures from the Finance & Leasing Association showed.

In the three months to January 2013 there was £234m, a rise of 5% from that the year before and there was £1.03bn in the 12 months to January, increasing by 16% year-on-year.

There were 5,118 new agreements in the three months leading to January, 5% more than that last year and 1,645 in January, 15% more year-on-year.

Fiona Hoyle, head of consumer and mortgage finance at the Finance & Leasing Association (FLA), said: “The second charge mortgage market reported growth in January, with new business up 8% by value and 13% by volume compared with the same period in 2017.

“The sector is continuing its work in ensuring that the new regulatory regime is fully implemented.”

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