Second charge market continues to grow: FLA

Data released by the finance and leasing association shows that the second charge mortgage market continued to expand into the new year.

In January 2019 there were 1,945 new agreements, valued at £85m, an increase of 18 per cent and 12 per cent against January 2018, respectively.

This is up from December’s figures, where there were 1,702 new agreements valued at a total of £80m.

In the 12 months leading to January 2019 there were 23,829 new agreements, with a value of £1.78bn.

FLA head of consumer and mortgage finance Fiona Hoyle says: “The second charge mortgage market made an impressive start to 2019.

“This is a strong performance, and as most of the market is broker-introduced, it also suggests that knowledge of second charge mortgages among brokers is growing.”

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