Specialist Lending

Second charge lending volumes up 24%

The number of new agreements increased by 14% annually to 25,243.

Rozi Jones
|
7th June 2019
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"The second charge mortgage market reported its eighth consecutive month of double-digit new business growth."

Second charge mortgage volumes increased by 24% in April compared to the same month in 2018, according to the latest figures from the Finance and Leasing Association.

New business increased 23% by value to £102m in April and saw growth of 11% over the twelve months with annual lending totalling £1.14bn.

The number of new agreements increased by 14% annually to 25,243.

The figures for April continue the strong growth seen in the previous month, which saw lending increase 25% by value and 31% by volume.

Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “In April, the second charge mortgage market reported its eighth consecutive month of double-digit new business growth.

“This is a great performance for what is an increasingly popular product.”

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