"We're confidently predicting March 2021 will see the highest lending figures since the arrival of the pandemic."
February's figure is still short of the previous year's total, which topped the £100m mark according to figures published by the FLA last year, but still represents a significant jump.
The other most notable change is the continued rise of higher LTV lending, which has doubled month-on-month. Lending options have continued to increase from second charge lenders with the return of Equifinance's 'Plus Range' and continued keener pricing at higher LTV from both Optimum & Oplo.
Overall, February's figures shine a positive light on second charge lending. Average terms are down from 14 to 16 years and completion times are dropping, with the average second charge taking just 11.6 days to complete.
Spring Finance also returned to the market this week, lending up to £100,000 at 75% LTV.
Matt Tristram, managing director of Loans Warehouse, commented: "As we enter several months of social and economic change, with the benefits of the vaccine roll-out having an impact, schools reopening and lockdown ending, the predictions are that demand is set to soar.
"We're confidently predicting March 2021 will see the highest lending figures since the arrival of the pandemic."
To see the full report, visit https://www.project-insights.co.uk/securedloanindex/february-2021.
