New business volumes in the second charge mortgage market rose by 11% in the first five months of 2025 compared to the same period last year, according to the latest figures from the Finance & Leasing Association (FLA).
Commenting on the data, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the FLA, said:
“The second charge mortgage market returned to growth in May, reporting its second highest total of new business so far this year by both value and volume. In the five months to May 2025, new business volumes were 11% higher than in the same period in 2024.”
In May 2025, the distribution of new business by purpose of loan was as follows:
- 58.9% for the consolidation of existing loans
- 22.4% for home improvements and loan consolidation
- 11.9% for home improvements only
Hoyle added:
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
