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 |