Second charge lending sees second-highest month since the financial crisis
Second charge lending totalled £150.9 million in May 2022, according to research from Loans Warehouse in partnership with Insights, Barcadia Media's independent market research portal.
May’s figures represent 7.47% growth month-on-month and the second-highest lending total since the financial crisis.
The annual rise is almost unprecedented with 67.88% growth from May 2021, whilst year-to-date lending is currently £834m, well over double the £389m reached by the same point last year.
Additionally, May saw an improvement in lender completions times, down from 22 days to 15 days from receipt to offer.
Last month also saw the announcement that MAB had acquired a 75% stake in the industry's biggest second charge Broker, Fluent Money. Fluent Money Group was believed to be valued at £95m at the point of acquisition.
To see the full report, visit https://www.project-insights.co.uk/securedloanindex/may-2022.
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