The second charge mortgage market grew significantly for the eighth month in a row this April, according to the Finance & Leasing Association.
Overall, there were 2,206 new agreements made, a 234 per cent change on the previous year.
This means that there have been 25,243 new agreements in the 12 months to April, itself a 14 per cent change on 2018’s figures.
Meanwhile, the value of new business in April came to £102m, which translates to a 23 per cent change, and brings the total value of new business in the 12 months to April up by 11 per cent, to £1.14bn.
FLA head of consumer and mortgage finance Fiona Hoyle comments: “This is a great performance for what is an increasingly popular product.”