11 May 2018
New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business fell 10% by value and 13% by volume in March, compared with the same month in 2017. In Q1 2018 as a whole, new business increased 1% by volume compared with the same quarter in 2017.
Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said:
“March was a quieter month for the consumer credit markets in general. These latest figures show a stable picture for new business volumes in the first quarter overall.”
Table 1: New second charge mortgage lending
|
Mar 2018 |
% change on prev. year |
3 months to Mar 2018 |
% change on prev. year |
12 months to Mar 2018 |
% change on prev. year |
|
|
Value of new business (£m) |
86 |
-10 |
244 |
0 |
1,023 |
+15 |
|
Number of new agreements (No.) |
1,826 |
-13 |
5,213 |
+1 |
22,007 |
+11 |
Note to editors:
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.
- For media enquiries, please contact the FLA press office on 020 7420 9656.