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.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
MPowered Mortgages
MPowered closes to new business amid potential sale
FCA
FCA bans and fines adviser £100,000
Budget
Reeves lays groundwork for tax rises in surprise pre-Budget speech
Santander
Santander reduces mortgage rates by up to 0.36% and launches new large loans
Pensions
Budget rumours drive 45% spike in pension lump sum enquiries
Budget
What taxes could be raised in the Autumn Budget?
