6 April 2018
Commenting on the February 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 February, with new business up 4% by value and 9% by volume, compared with the same period in 2017.
“February saw an increase in the number of customers taking out a secured loan, which are often used to fund home improvements or deposits on a second property.”
Table 1: New second charge mortgage lending
|
Feb 2018 |
% change on prev. year |
3 months to Feb 2018 |
% change on prev. year |
12 months to Feb 2018 |
% change on prev. year |
|
|
Value of new business (£m) |
81 |
+4 |
233 |
+5 |
1,032 |
+17 |
|
Number of new agreements (No.) |
1,742 |
+9 |
4,971 |
+7 |
22,270 |
+14 |
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.