Second charge mortgage new business volumes grew by 24% in June 2022

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 second charge mortgage market continued to report new business growth in June, but at a slower rate than in recent months.  Annual new business volumes in June surpassed the pre-pandemic peak for the first time reaching 30,849 new agreements.

“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”