Second charge lending up 45.3% in 2022
Despite the recent fall, total lending for 2022 finished at £1.71 billion which is an increase of over 45% year-on-year.
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.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Blogs
Mark Eaton: Is 2026 the year brokers die out?
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: Nationwide
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Vida
Vida launches high LTV 'Pathway' mortgage range
Melton Building Society
Melton BS launches 100% LTV mortgage
First-time Buyer
Smaller deposits and higher LTV mortgages driving first-time buyer activity: Barclays
