"December saw the market report its sixth consecutive month of growth, contributing to solid single-digit new business growth in 2018 as a whole."
In the fourth quarter of 2018, second charge lending rose 16% by value and 18% by volume compared to Q4 2017.
For the year as a whole, lending over 2018 increased 4% in value and 7% in volume compared to the previous year.
Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “December saw the market report its sixth consecutive month of growth, contributing to solid single-digit new business growth in 2018 as a whole.
“The second charge mortgage market is expected to see further single-digit new business growth in 2019 overall.”
