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 reported a strong end to the first quarter of 2025, with new business volumes up by 17% in Q1 2025 as a whole.
“The distribution of new business by purpose of loan in Q1 2025 showed that the proportion of new agreements which were for the consolidation of existing loans was 58.0%; for home improvements and the consolidation of existing loans was 22.6%; and for home improvements only was 11.8%.
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
Source: FLA
PreviousConsumer finance new business fell by 4% in March 2023
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 4% in March 2023 compared with the same month in 2022. In Q1 2023, new business was 2% lower than in Q1 2022.
Second charge mortgage new business volumes grew by 5% in March 2024
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:
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