11 January 2018
Commenting on the November 2017 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 further modest growth in November, and in the first 11 months of 2017, new business volumes increased by 11% compared with the same period in 2016.
“Lenders remain focused on fully embedding the new regime, which sees first and second charge mortgages regulated on the same basis.”
Table 1: New second charge mortgage lending
|
Nov 2017 |
% change on prev. year |
3 months to Nov 2017 |
% change on prev. year |
12 months to Nov 2017 |
% change on prev. year |
|
|
Value of new business (£m) |
80 |
+3 |
242 |
+8 |
996 |
+13 |
|
Number of new agreements (No.) |
1,815 |
+2 |
5,388 |
+6 |
21,288 |
+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 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2016.
- For media enquiries, please contact the FLA press office on 020 7420 9656.