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Second charge market busiest in a decade: FLA

The second charge mortgage market recently enjoyed the highest level of monthly new business volumes since October 2008, according to the Finance & Leasing Association.

Specifically, there were 2,392 new agreements arrived at in March 2019 at a value of £108m, respective yearly changes of 31 per cent and 25 per cent.

This compares to the 2,163 new agreements made in February, which totalled £98m in value.

In the 12 months to March, the FLA reports that there were 24,812 new agreements at a total value of £1.1bn, which amounts to a yearly change of 13 per cent and 9 per cent.

FLA head of consumer and mortgage finance Fiona Hoyle summarises that second charge market, “is a competitive and innovative market for consumers, with a growing number of broker partners.”


Sklaroff to leave FLA after 12 years

Stephen Sklaroff (pictured) is set to leave the Finance & Leasing Association after 12 years as director general. He will leave his position at the end of this year. Sklaroff comments: “It has been a privilege and a pleasure to work with the FLA’s members over the past 12 years as they have demonstrated their […]


FCA to target second charge and sub-prime sector

The Financial Conduct Authority has revealed plans to closely examine the second-charge and sub-prime mortgage market this year over concerns that some lenders are setting out to profit from borrowers who are unable to repay their loans. In its business plan for 2019/20 the regulator set out its priorities for the year ahead, including ongoing […]

Sainsbury’s Bank amends resi and BTL ranges

Sainsbury’s Bank has announced a series of rate reductions and increases within its residential and buy-to-let ranges. Notable changes within the lender’s residential range include the 80 per cent LTV five-year fix reduced from 2.29 per cent to 2.24 per cent. In contrast, the 85 per cent LTV two-year fixed rate product has been increased […]

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 


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