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Second charge mortgage market strengthens in February: FLA

The second charge market grew in business volumes at its fastest pace in nearly two years, according to the Finance & Leasing Association.

Figures provided by the FLA show that, in February, there were 2,163 new agreements made at a value of £98m, a percentage change of 24 per cent and 20 per cent on the previous year, respectively.

New business volumes have not been seen at this amount since May 2017, when 1,851 were recorded at £87m in value, coming to 29 per cent and 26 per cent growth, in that order.

In the 12 months to February, the FLA reports that a total of 24,249 new second charge agreements made at a value of £1.1bn altogether, yearly growth of 9 per cent and 6 per cent, respectively.

FLA head of consumer and mortgage finance Fiona Hoyle says: “The popularity of second charge mortgages continues to grow as people opt to improve, rather than move.”



Second charge market continues to grow: FLA

Data released by the finance and leasing association shows that the second charge mortgage market continued to expand into the new year. In January 2019 there were 1,945 new agreements, valued at £85m, an increase of 18 per cent and 12 per cent against January 2018, respectively. This is up from December’s figures, where there […]


Debt issues dominate second charge mortgage searches: Knowledge Bank

Knowledge Bank’s latest insight from its criteria activity tracker shows that four out of five searches within the second charge category include debt issues. Specifically, the top five searches in the second charge category for February were: ‘maximum LTV, county court judgements – unsatisfied’, ‘debt management plan – ongoing/current’, ‘all benefits no earned income’, and […]


BM Solutions appoints four new BDMs

BM Solutions has appointed four new BDMs to work across the UK. Gareth Stockton joins from Lloyds Banking Group, where he has spent the last two decades. He will cover the North West region of England. Another new appointment is Michael Blake, who previously held the position of credit control manager at Lex Autolease. Blake […]

Parental leave and pensions

Fiona Hanrahan  – Senior Product Insight and Technical Support Analyst We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. How does parental leave impact the funding of workplace pension schemes? A member of a defined […]


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