Second charge mortgage new business volumes grew by 15% in July 2025
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.”
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Second charge mortgage new business volumes grew by 11% in May 2025
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:
Consumer finance new business grew by 2% in May 2025
New figures released (15/07/25) by the Finance & Leasing Association (FLA) show that consumer finance new business grew in May 2025 by 2% compared with the same month in 2024. In the first five months of 2025, new business in this market was 4% higher than in the same period in 2024.
Credit card spending slows
Latest UK credit card data from global analytics software leader FICO provides stark evidence that consumer financial confidence remains low. Whilst spending has followed the usual seasonal drop after Easter, the average active balance is 4.7% higher year-on-year, suggesting consumers are not able to clear as much of their credit card debt.
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