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 in July, although at a more modest pace than earlier in the year. Looking ahead, the prospect of market interest rates remaining higher for longer may continue to temper demand.
“For homeowners looking to access housing equity while retaining an existing low-rate mortgage, second charge mortgages continue to provide a flexible and attractive funding option.”
