Lending across the second charge sector totalled £166.5m in August, according to figures reported directly from second charge lenders to Loans Warehouse.
The latest Secured Loan Index from Loans Warehouse confirmed this was a 3.2% increase worth £5.2m on July’s total.
This is now the fourth month in 2022 where a post-financial crisis record has been set, after the index also showed that August saw an annual increase of 74.1%. The annual growth has now increased again and is set to surpass £1.75bn in 2022 - another post-financial crisis record.
Furthermore, Loans Warehouse revealed that August’s total was made up of 3,361 completions, which was a 1% increase on July. This was as the average completion time for a loan came in at 18.62 days, a fraction faster than in July when the average stood at 18.95 days.
“The most noticeable change in August’s figures to recent months is the drop in lending above 85% LTV, down 3.33% on July 2022,” said Loans Warehouse managing director, Matt Tristram.
“Completion times have seen a slight decrease as lenders have successfully recruited in recent months to manage the increased demand.”
The monthly Secured Loan Index published by 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
-
Net mortgage approvals rebound in September – BoE
-
Adviser study reveals clients cutting pension payments for IHT purposes
-
LendInvest completes £310.6m securitisation
-
HSBC UK profits fall 6% in Q3
-
Three in five landlords don’t trust Govt to deliver leasehold reform
-
Fifth of HNWIs unaware of private pension IHT changes
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 role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
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, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
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, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
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