8 June 2018
Commenting on the April 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market reported new business growth of 2% by value and 8% by volume in April, compared with the same period in 2017. In the three months to April 2018, the number of new second charge mortgages was 5,339, unchanged on the same period in 2017.
“This versatile product continues to prove popular with customers.”
Table 1: New second charge mortgage lending
|
Apr 2018 |
% change on prev. year |
3 months to Apr 2018 |
% change on prev. year |
12 months to Apr 2018 |
% change on prev. year |
|
|
Value of new business (£m) |
83 |
+2 |
251 |
-2 |
1,025 |
+11 |
|
Number of new agreements (No.) |
1,771 |
+8 |
5,339 |
0 |
22,145 |
+9 |
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.