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 has reported growth in new business volumes in all but one month in 2025 so far and is ending the year growing as strongly as it began it.

“The proportion of new business volumes which were solely for the consolidation of existing loans fell in November compared with the previous month at 58.0%.  A further 22.4% were for home improvements and loan consolidation, and 10.8% solely for home improvements.

“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”