Second charge lending up 45.3% in 2022

Second charge lending reduced for the fourth consecutive month to £101.5 million in December 2022, according to research from Loans Warehouse in partnership with Insights, Barcadia Media's independent market research portal.

Despite the recent fall, figures reported directly to Loans Warehouse from second charge lenders confirm that total lending for 2022 finished at £1.71 billion which is an increase of over 45% year-on-year.

Matt Tristram, managing director of Loans Warehouse, commented: "The percentage of lending above 85% LTV increased in the past month, up just shy of 2% on November 2022, the highest increase since July 2022.

"Completion time from submission has remained steady throughout the month, currently standing at 18.9 days."

To see the full report, visit https://www.project-insights.co.uk/securedloanindex/december-2022.