Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said:

“The second charge mortgage market continued to strengthen in July with monthly new business by value reaching its highest level since June 2008.  In the seven months to July 2025, new business volumes were 13% higher than in the same period in 2024.

“The proportion of new business volumes which were totally or in part for the consolidation of existing loans remained stable at 81% in the seven months to July 2025, similar to the same period in 2024.

“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”