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FLA – second charge business flattening

Second charge mortgage business is flattening out, Finance & Leasing Association figures indicate.

In July the association registered 73 new deals, a 9% drop from last year, while in the three months to July there was a 0% change from the previous year.

Despite the drop-off there was still a 19% increase in deals in the year to July 2016.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Maintaining consumer confidence will remain a key task for the government, the Bank of England and other public bodies in the coming months.”

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