Second charge volumes rise 6% in August
Second charge mortgage lending dipped 2% by value but volumes increased by 6% in August, according to the latest data from the Finance & Leasing Association.
"The second charge mortgage market has reported new business growth in six out of eight months so far in 2018."
August saw new business to the value of £92 million, with the number of new agreements at 2,100 over the month.
Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association, said: “The second charge mortgage market has reported new business growth in six out of eight months so far in 2018.
"With the number of new agreements in this market up by 3% in the first eight months of 2018, we continue to expect single-digit growth in 2018 as a whole.”
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