Second charge lending averaging over £100m for first time since pandemic

The figures, reported directly to Loans Warehouse from second charge lenders, confirm that lending totalled £95.6 million in August 2021.

Whilst the figures show a slight dip on July’s £101.2m, they demonstrate consistency as lending has a three month average of more than £100m for the first time since the pandemic began.

Matt Tristram, managing director of Loans Warehouse, commented: "As expected, second charge lending is largely up on figures reported in 2020, with August’s year on year figure up 122%. A more pertinent comparison would be 2019’s figures reported by the FLA, for which August stood at £105m.

"The most significantly reported change was seen in higher LTV lending which fell by just short of 10% from the figures published in June 2021.

"Year to date, second charge lending has now surpassed the half billion figure with £595m in second charges completed and new lending figures continue to improve month on month."

To see the full report, visit https://www.project-insights.co.uk/securedloanindex/august-2021.