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Second charge purple patch continues in July: FLA


The second charge market saw huge growth in July, with new business up 23 per cent by value year-on-year, according to new figures from the Finance & Leasing Association.

The FLA says there was £90m of second charge business written in July, up 21 per cent by volume.

In the first seven months of 2017, the number of new second charge mortgages grew by 13 per cent to reach 12,378.

FLA head of consumer and mortgage finance Fiona Hoyle says: “It is important to remember that this growth is from a relatively low base.

“Nonetheless, the latest figures show that more customers are taking out a second charge mortgage – for example to fund renovations or help family members with a deposit for their first home.”



Second charge booms in June: FLA

New second charge lending was £94m in June, up 8 per cent from £87m in May, according to figures from the Finance & Leasing Association. June second charge lending was also up 33 per cent year on year. New second charge business was £259m in Q2 2017, up 36 per cent year-on-year. Meanwhile, there were […]

Opinion: Industry must act on high second charge fees

The Mortgage Credit Directive has now been in place for 18 months and the second charge mortgage world has bedded in well and is getting some much-needed traction after a turbulent year. As an industry, we should all be extremely proud of how we have integrated, adapted and risen to the challenges that we have […]

Second charge repossessions down 10% in Q2: FLA

The number of second charge mortgage repossessions fell in the second quarter, down 10 per cent on the same period last year, Finance and Leasing Association figures have found. However, the number of repossessions in Q2 of this year was up on Q1, from 17 to 36. The annual rate of second charge mortgage repossessions […]


Trust me, I’m a provider

By Craig Paterson, Underwriting and Claims Philosophy Manager, Royal London Hard-hitting headlines “Dying mother of two is refused life insurance payout.”1 “What a way to treat a dying man: Grandfather refused life insurance claim.”2 “A widow betrayed by a life insurance company.”3 With headlines like these, it’s no wonder some consumers don’t trust providers. Trust […]


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