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Second charge mortgage new business volumes up 15% in March PDF Print E-mail
Friday, 12 May 2017
New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business grew 8% by value and 15% by volume in March, compared with the same month in 2016.  

Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The second charge mortgage market has faced significant change since transferring into the FCA’s mortgage regime in March 2016.

“The strong performance in March 2017 – the first month that new business volumes have grown since August 2016 – could be the early signs of a return to form for this important market.

“Second charge mortgages are a very useful product, with consumers taking them out for a variety of reasons – including home improvements, or paying the deposit or removal costs for a son or daughter moving into their first home.”
 

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