Second charge mortgage new business up 19%
Second charge mortgage new business volumes was up by 19% in 2019 according to new business figures from the Finance and Leasing Association (FLA).
Fiona Hoyle, head of consumer and mortgage finance at the 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.”