Second charge lending up 7% over 2018: FLA
Second charge mortgage new business increased 6% by value and 13% by volume in December compared to the same month in 2017, according to the latest figures from the Finance and Leasing Association.
"December saw the market report its sixth consecutive month of growth, contributing to solid single-digit new business growth in 2018 as a whole."
In the fourth quarter of 2018, second charge lending rose 16% by value and 18% by volume compared to Q4 2017.
For the year as a whole, lending over 2018 increased 4% in value and 7% in volume compared to the previous year.
Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “December saw the market report its sixth consecutive month of growth, contributing to solid single-digit new business growth in 2018 as a whole.
“The second charge mortgage market is expected to see further single-digit new business growth in 2019 overall.”
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