Second charge mortgage new business volumes fell by 34% in February 2021

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The UK lockdown restrictions over the winter months contributed to a fall of a third in second charge mortgage new business volumes. As consumer confidence improves and the economy re-opens, we expect to see a strong rebound in demand in this market.”