7 September 2018
Commenting on the July 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 made a positive start to the third quarter, with new business in July up 6% by value and 5% by volume. The number of new agreements in this market grew by 2% in the first seven months of 2018, in line with expectations of modest single-digit growth in 2018 overall.”
Table 1: New second charge mortgage lending
|
Jul 2018 |
% change on prev. year |
3 months to Jul 2018 |
% change on prev. year |
12 months to Jul 2018 |
% change on prev. year |
|
|
Value of new business (£m) |
98 |
+6 |
277 |
-1 |
1,024 |
+4 |
|
Number of new agreements (No.) |
2,162 |
+5 |
6,090 |
+2 |
22,245 |
+4 |
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.