Second charge mortgage new business volumes grew by 36% in December and by 44% in 2021, the latest figures from the Finance & Leasing Association (FLA).
December saw some £99m worth of new seconds written up 53% on the year previous.
Fiona Hoyle (pictured), director of consumer & mortgage finance and Iinclusion at the FLA, said: “The second charge mortgage market has reported a sustained recovery in new business volumes since April 2021.
“There is still room for growth as new business remains 16% lower by value and 14% lower by volume than in 2019.”
| Dec 2021 | % change on prev. year | 3 months to Dec 2021 | % change on prev. year | 12 months to Dec 2021 | % change on prev. year | |
| Value of new business (£m) | 99 | 53 | 323 | 52 | 1,110 | 47 |
| Number of new agreements (No.) | 2,174 | 36 | 7,301 | 38 | 25,877 | 44 |
