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
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Consumer finance new business grew by 9% in April 2024
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in April 2024 by 9% compared with the same month in 2023. In the first four months of 2024, new business in this market increased by 2% compared with the same period in 2023.
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