Second charge mortgage volumes were up by 20% in September.
The latest annual new business volumes have reached more than 27,000, a decade-high.
Commenting on the latest new business figures Fiona Hoyle, interim director general of the FLA, said: "“Second charge mortgages are proving to be a popular product with consumers. While the market has returned a strong performance so far in 2019, new business volumes remain well below pre-crisis levels.”
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Is 2025 the year of the remortgage?
An estimated 1.8 million fixed rate mortgage deals are due to expire in 2025, 400,000 more than in 2024. This surge in remortgaging presents a critical opportunity for mortgage brokers to offer essential advice and financial support to homeowners across the UK, ensuring they transition smoothly to new deals amid stabilising interest rates and heightened affordability checks.
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