The Finance & Leasing Association (FLA) has reported that second charge mortgage market recorded its 12th consecutive month of double-digit new business growth in August.
During the month, the value of new business was £120m, up 10% year-on-year.
In the first eight months of 2019, new business volumes were 21% higher than in the same period in 2018.
New second charge mortgage lending:
Aug 2019 | % change on prev. year | 3 months to Aug 2019 | |
| Value of new business (£m) | 102 | +10 | 321 |
| Number of new agreements (No.) | 2,343 | +12 | 7,272 |
% change on prev. year | 12 months to Aug 2019 | % change on prev. year | |
| Value of new business (£m) | +14 | 1,191 | +17 |
| Number of new agreements (No.) | +16 | 26,695 | +19 |
