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FLA: Second charge business volumes highest since 2008

12 September, 2019

By: Ryan Fowler

category: News, Second Charge

0

The second charge mortgage market reported its highest monthly new business volumes in July since 2008.

The Finance and Leasing Association (FLA) showed new business volumes rose by 17% year-on-year to reach £115m.

Meanwhile there were 2,656 new agreements, a year-on-year increase of 23%.

Fiona Hoyle, head of consumer and mortgage finance at the FLA said: “The popularity of second charge finance is continuing to grow, with consumers increasingly using it to fund property extensions and other home improvements.”

 


Tags: Fiona Hoyle, The Finance and Leasing Association

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