Second charge lending up 24% in April

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buy to let

Second charge mortgage volumes increased by 24% in April compared to the same month in 2018, according to the latest figures from the Finance and Leasing Association.

New business increased 23% by value to £102m in April and saw growth of 11% over the twelve months with annual lending totaling £1.14bn.

Commenting on the April 2019 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:

“In April, the second charge mortgage market reported its eighth consecutive month of double-digit new business growth.

“This is a great performance for what is an increasingly popular product.”