Second charge mortgage new business volumes grew by 195% in June 2021

2 August 2021

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said:

'The second charge mortgage market continued its recovery in June as new business grew for a third consecutive month. In H1 2021, new business volumes increased by 21% compared with the same period in 2020, and we expect further growth during the second half of this year.'

Table 1: New second charge mortgage lending

	May 2021	% change on prev. year	3 months to May 2021	% change on prev. year	12 months to May 2021	% change on prev. year
Value of new business (£m)	84	309	253	74	784	-33
Number of new agreements (No.)	1,910	293	5,848	82	18,044	-27

Note to editors:

1. 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.
2. In 2020, FLA members provided £113 billion of new finance to UK businesses and households. £86 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2020.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.