The SFC Solo brand allows advisers to trade independently but with the credibility and protective infrastructure provided by a directly authorised firm.
As a result of the decline, the total number of completions dropped to 2,344 last month.
As a result, the number of new agreements in July was 2,433, and the value of this new business was £101m.
The second charge mortgage market continued its recovery for a third consecutive month, according to the FLA.
The new BDM will support brokers in the AL (St Albans), E (East London), EN (Enfield), HP (Hemel Hempstead), IG (Ilford), LU (Luton), N (North London), NW (North West London), RM (Romford) and WD (Watford) postcode areas.
The second charge lending market has officially hit pre-pandemic levels and surpassed the £100m barrier.
The number of new agreements in May was 1,910, and the value of new business was £84m.
Selina Finance has partnered with Pure Law to deliver completions on its overdraft-style second charge lending facilities.
The arrangement aims to provide more choice and add to the expertise available for MAB advisers, which the company believes will result in greater choice and improved customer outcomes.
The new panel aims to provide MAB advisers with greater choice and add to the expertise already available within its specialist finance offering.