Second charge mortgage new business volumes grew by 15% in July 2025, with the value of new business reaching £201m, up 23% on the previous year, according to the latest figures from the Finance & Leasing Association (FLA).
Over the three months to July 2025, new lending totalled £539m, rising 20% on the previous year, with 10,661 new agreements, up 14%.
For the 12 months to July 2025, new lending hit £1.91bn, an increase of 24%, with 38,304 new agreements, up 16%.
Fiona Hoyle, director of consumer & mortgage finance and inclusion at the FLA, said: “The second charge mortgage market continued to strengthen in July with monthly new business by value reaching its highest level since June 2008.
“In the seven months to July 2025, new business volumes were 13% higher than in the same period in 2024.
“The proportion of new business volumes which were totally or in part for the consolidation of existing loans remained stable at 81% in the seven months to July 2025, similar to the same period in 2024.”
Hoyle added: “As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
