Second charge lending totalled £143.3m in June, £7.6m less than the figure in May, according to the latest Secured Loan Index published by Loans Warehouse.
June’s total represented a 5.3% drop compared with May, but was a 37.4% increase on June last year.
Figures reported directly to Loans Warehouse from second charge lenders confirmed that the annual growth rate is continuing to surpass all records since the financial crisis. Q2 saw the highest quarterly lending total since 2007, up 7.3% on an already record-breaking Q1, and £840.2m lent year to date.
The total for June was comprised of 3,014 loan completions, which represented a 2% fall from May. Loans Warehouse’s data also showed that the average time between submission and completion for a loan stood at 17.3 days during June, 2.3 days slower than in May.
“We're seeing a shift in the use of a second charge, with the number of home improvement loans starting to fall slightly, potentially linked to the rising cost of living and materials,” said Loans Warehouse managing director, Matt Tristram.
“Completion times are up slightly in June, but May saw a big decrease from previous months, so this wasn't unexpected.”
The monthly Secured Loan Index from Loans Warehouse uses information from several second charge lenders in the UK including Pepper Money, Oplo, United Trust Bank, Together Money, Norton Home Loans, Equifinance, Evolution Money and Selina Finance.
Latest News
-
Overall savings product choice continues to beat records
-
7IM claims record growth with highest platform AUM growth in Q2
-
Rental arrears reach all-time low
-
Shackleton to add £800m in AUMA with AC Wealth acquisition
-
Over six million face uncertainty over paying rent or mortgages in retirement
-
Raindrop reunites savers with £2bn in lost pensions
AI, finfluencers and the future of broking
The mortgage industry is evolving faster than ever. In this MoneyAge video, we examine the opportunities and challenges redefining the broker landscape, from AI-powered lending and changing customer expectations to housing affordability, property supply and the rise of financial influencers. Our guest from Chorley Building Society shares practical insights on what brokers need to do to stay relevant and thrive in a rapidly changing market.
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories