Second charge new business up 24% in January 2025: FLA
The second charge mortgage market made a positive start to 2025, with double-digit growth in new business by value and volume.
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Consumer finance new business grew by 2% in January 2025
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in January 2025 by 2% compared with the same month in 2024. In the twelve months to January 2025, new business in this market was also 2% higher than in the same period in 2024.
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First-time buyers paying extra £4,200 a year on their mortgage
First-time buyers in the UK are facing paying an extra £4,200 a year on their mortgage with increased mortgage payments, which now average £940 per month compared to £590 five years ago, according to latest Rightmove research.
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Second charge mortgage new business volumes grew by 16% in December 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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Asset finance new business grew by 7% in December 2024
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in December 2024 by 7% compared with the same month in 2023. In 2024 as a whole, new business was 3% higher than in 2023.
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Eight in ten mortgage brokers optimistic amid economic challenges
New research reveals that there is healthy optimism among brokers about the future of the UK mortgage sector, despite a challenging economic backdrop, including stamp duty rises expected in April and falling rent prices causing worries for buy-to-let buyers.
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