Second charge mortgage lending in the year to July was up 29 per cent on the previous year, according to figures published last week by the Finance & Leasing Association.
In the 12 months to July, £394m of second charge lending was completed, up from roughly £305m in the same period a year earlier.
Around £41m was advanced in July, up 32 per cent on the previous July.
FLA head of consumer lending Fiona Hoyle says: “Our latest figures show the important contribution the credit sector provides to the wider economy. Maintaining capacity in the credit market should be a priority now that the countdown to the new FCA regime has begun.”