Second charge new business volumes increased 24% year-on-year in June as the market continues its resurgence.
Despite slowing on the strong results seen in recent months the market saw 30,849 new agreements worth £130m during the month.
Fiona Hoyle (pictured), director of consumer & mortgage finance and inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market continued to report new business growth in June, but at a slower rate than in recent months.
“Annual new business volumes in June surpassed the pre-pandemic peak for the first time reaching 30,849 new agreements.”
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
| Jun 2022 | % change on prev. year | 3 months to Jun 2022 | % change on prev. year | 12 months to Jun 2022 | % change on prev. year | |
| Value of new business (£m) | 130 | 29 | 390 | 44 | 1,360 | 61 |
| Number of new agreements (No.) | 2,854 | 24 | 8,529 | 37 | 30,849 | 52 |
