Second charge mortgage new business volumes up by 19% in 2019

Commenting on the full year 2019 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The second charge mortgage market reported double-digit growth in each month of 2019. New business volumes reached over 28,000 agreements in 2019, which was the highest annual total since 2008.

“Although still a relatively small sector, second charge mortgages are proving popular with consumers and we expect the market to continue to grow in 2020.”