Second charge lending rises 195% in June: FLA
Second charge lending has continued its recovery, seeing strong growth for the third consecutive month, according to the latest figures from the Finance & Leasing Association.
"In H1 2021, new business volumes increased by 21% compared with the same period in 2020"
The number of new agreements totalled 1,960 in June, 195% higher than in June 2020, while the value of new lending rose 236% to £91m.
In Q2, lending rose 208% by volume and 217% by value compared to the previous quarter.
Fiona Hoyle, director of consumer and mortgage finance and Inclusion at the FLA, said: “The second charge mortgage market continued its recovery in June as new business grew for a third consecutive month.
"In H1 2021, new business volumes increased by 21% compared with the same period in 2020, and we expect further growth during the second half of this year.”
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