"The second charge mortgage market remained buoyant in May, as monthly new business reached more than £100 million for the second time this year."
Quarterly lending in the three months to May rose 26% by volume compared to the same period in 2018 and the number of agreements is up by 16% over the 12-month period.
The amount of new lending also continued to increase, with monthly values recorded at over £100m for the second time in 2019.
Second charge lending has maintained a steady increase over 2019, with the value and volume of lending rising by over 20% in the FLA's data for the past four months.
Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “The second charge mortgage market remained buoyant in May, as monthly new business reached more than £100 million for the second time this year.”
