Second charge lending sees further 25% rise in August: FLA

Second charge lending sees further 25% rise in August: FLA
The second charge mortgage market reported another strong month in August, with new business continuing to grow from a low base.

Second charge mortgage new business increased 25% by value and 11% by volume in August compared with the same month last year, according to figures from the Finance & Leasing Association.

This is the sixth consecutive month of growth following six months of decline starting in August 2016.


Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association, said: “The second charge mortgage market reported another strong month in August, with new business continuing to grow from a low base.

“A second charge mortgage provides a useful alternative where homeowners want to raise additional funds but do not want to change their existing first charge mortgage.”

Join our mailing list:

Leave a comment



Latest Money Careers

Related stories

More articles from Specialist Lending

Buy-to-let
Roadshow 2017

15th - 23rd November

4 days
7 specialists
4 locations
Free to attend

Click here to register now