Specialist Lending

Second charge lending growth hits ten-year high: FLA

Second charge lending grew 25% by value and 31% by volume in March.

Rozi Jones
|
10th May 2019
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"In March, the second charge mortgage market reported its highest level of monthly new business volumes since October 2008."

Second charge lending was up 25% by value and 31% by volume in March compared to the same month in 2018, according to figures from the Finance & Leasing Association.

The FLA says this is the highest monthly growth seen since October 2008.

Its data shows that new business lending totalled £108m in March and £292m over the first quarter of 2019 - a rise of 19%.

By volume, lending increased 25% in Q1 and 13% in the twelve months to march.

Fiona Hoyle, head of consumer and mortgage finance at the Finance & Leasing Association, said: “In March, the second charge mortgage market reported its highest level of monthly new business volumes since October 2008.

“It is a competitive and innovative market for consumers, with a growing number of broker partners.”

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