Second charge mortgage new business volumes grow by 13%

Written by Oliver Wade

Second charge mortgage new business volumes increased by 13 per cent in January 2018 compared to the same period the year before, resulting in a value growth of 8 per cent, equating to £76m and 1,645 new deals, according to the Finance & Leasing Association (FLA).

Commenting on the growth, FLA head of consumer and mortgage finance Fiona Hoyle said: “The sector is continuing its work in ensuring that the new regulatory regime is fully implemented.”

In the 12 month period leading up to January 2018, the FLA has reported that the value of new business was £1,029m, a 16 per cent increase over the previous period, suggesting that the market is growing considerably year-on-year.

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