Second charge lending sees fourth record month of 2022
Second charge lending totalled £166.5 million in August 2022, according to research from Loans Warehouse in partnership with Insights, Barcadia Media's independent market research portal.
August marks the fourth month in 2022 where a post-financial crisis record has been set.
Figures reported directly to Loans Warehouse from second charge lenders confirm a 3.2% increase on July 2022 and an annual increase of 74.08%.
The annual growth has now increased again and is set to surpass £1.75 billion in 2022 - another post-financial crisis record.
The most noticeable change in August’s figures to recent months is the drop in lending above 85% LTV, down 3.33% on July 2022.
Completion times have seen a slight decrease as lenders have successfully recruited in recent months to manage the increased demand.
Matt Tristram, co-founder and director of Loans Warehouse, commented: “As the Secured Loan Index enjoys a lot of coverage, we wanted to use this platform to mention our late Queen Elizabeth II.
"All at Loans Warehouse share the view that we have been honoured to live under her incredible reign and she will be deeply missed.”
To see the full report, visit https://www.project-insights.co.uk/securedloanindex/august-2022.
