Second charge lending up 82% in Q1
Second charge lending was 82% higher in Q1 2022 than in the same quarter of 2021, according to research from Loans Warehouse in partnership with Insights, Barcadia Media's independent market research portal.
The figures reported directly to Loans Warehouse from second charge lenders confirm lending totalled £155.5 million in March 2022, a new post credit crunch record and a continuation of the huge growth seen over the last six months.
These record breaking figures represent a 12.36% increase month-on-month, and a 12.83% rise on the previous post-credit crunch record.
The number of loans written was again a new record at 3,237, beating November 2021’s figures of 3,036.
As a result, Q1 lending is up by 82.62% on the same period in 2021. By comparison, it took until June to reach the same level of lending last year.
To see the full report, visit https://www.project-insights.co.uk/securedloanindex/march-2022.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
FCA
Advice firm employees plead guilty after defrauding clients of £2m
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
