There was £107m worth of new business in the second charge mortgage market during February this year, reflecting a 9% change from last year, new data published by the Finance & Leasing Association (FLA) revealed.
The FLA revealed that this represented 2,435 new agreements during the month, which was a 13% rise from a year earlier.
In the 12 months to the end of February 2020, the FLA found the value of business for the second charge mortgage market had hit £1.28bn with 28,512 new agreements in that time – each figure reflecting an 18% rise against the 12-month period preceding it.
FLA head of consumer and mortgage finance, Fiona Hoyle, commented: “The second charge mortgage market made a positive start to 2020, but the mortgage market faces serve disruption from the impact of the coronavirus on the economy.
“Lenders are doing their best to support customers during these unprecedented times, and any customer facing repayment difficulties due to the coronavirus should contact their lender as soon as possible to discuss the help they need.”
In 2019, FLA members provided £140bn of new finance to UK businesses and households, with £105bn of this in the form of consumer credit – representing over a third of total new consumer credit written in the UK last year.
Latest News
-
Tories pledge to scrap stamp duty on primary residencies
-
Economic climate taking emotional toll on three in four consumers
-
IMLA warns Chancellor not to hike taxes in housing market in Budget
-
Lloyds announces full acquisition of SPW
-
IFA enquiries surging in build-up to Budget
-
Three in five cash ISA savers would consider stocks and shares alternative
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