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 ended 2025 on a strong note with new business volumes up 35% in December compared with the same month in 2024.  In 2025 as a whole, new business by both value and volume reached its highest level since 2008.

“The analysis of loan purpose suggests a stable picture with the proportion of new business volumes which were solely for the consolidation of existing loans last year at 58.3%.  A further 23.0% were for home improvements and loan consolidation, and 12.0% solely for home improvements.”

Source: FLA