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

“The second charge mortgage market continued to grow strongly in April, with new business up 29% by value and 21% by volume, highlighting sustained demand for flexible borrowing options in the current environment.

“Looking ahead, demand is likely to remain supported by this need for flexibility, with second charge mortgages well placed to help households manage budgets and maintain financial resilience as economic conditions evolve.”

Source: FLA