21 March 2018
Commenting on the January 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 growth in January, with new business up 8% by value and 13% by volume compared with the same period in 2017.
“The sector is continuing its work in ensuring that the new regulatory regime is fully implemented.”
Table 1: New second charge mortgage lending
|
Jan 2018 |
% change on prev. year |
3 months to Jan 2018 |
% change on prev. year |
12 months to Jan 2018 |
% change on prev. year |
|
|
Value of new business (£m) |
76 |
+8 |
234 |
+5 |
1,029 |
+16 |
|
Number of new agreements (No.) |
1,645 |
+13 |
5,118 |
+5 |
22,130 |
+12 |
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.