Second charge mortgage new business volumes up 24% in June

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. year3 months to Jun 2022% change on prev. year12 months to Jun 2022% change on prev. year
Value of new business (£m)13029390441,36061
Number of new agreements (No.)2,854248,5293730,84952
New second charge mortgage lending
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