Loan Introducer
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
  • Commercial
  • Residential
  • Secured
  • Short Term
  • Unsecured
Facebook LinkedIn Twitter

Time: 0:0

Ryan Fowler

FLA: Second charge mortgage new business down 71% in June

06 August, 2020

By: Ryan Fowler

category: Residential, Secured

0

The second charge mortgage market saw new business levels decrease by 71% in June, the latest figures from the Finance & Leasing Association have revealed. 

Credit card and personal loan new business together fell in June 2020 by 29% compared with the same month in 2019, and decreased by 20% in the first six months of 2020.

Retail store and online credit new business was 7% lower in June than in the same month in 2019, and contracted by 11% in the first half of 2020.

Geraldine Kilkelly, head of research and chief economist at the Finance & Leasing Association (FLA), said: “The relatively slow recovery in second charge mortgage new business volumes reflects the gradual reopening of the economy and continued household caution as the outlook for employment and the progression of the virus remains uncertain.

“Lenders are continuing to do all they can to support customers during this challenging period and customers experiencing payment difficulties should contact their lender as soon as possible.”


Recent News

Evolution Money launches second-charge tracker

08 April, 2021

Loans Warehouse: Business as usual for second charge market

12 January, 2021

Loans Warehouse appoints former OneSavings Bank director

12 January, 2021

Shawbrook increases maximum loan size across second charge offering

12 January, 2021

Comments are closed.

Polls

Will the next six months see an increase in second charge business?

View Results

Loading ... Loading ...
BACK TO TOP

Blog

Blog: Regulation, regulation, regulation

28 January, 2016

  • 0

BLOG: The need to shop around

27 October, 2015

  • 0

Experience is everything

28 March, 2013

  • 0

Tags

  • ‘The LM Experience’
  • £50m
  • 1st HomeLoans
  • 1st Stop Group
  • 247Moneybox
  • 360 Lifecycle
  • 75% LTV
  • 85% LTV
  • Aaron Noone
  • ABC
  • Abhai Rajguru
  • Access 4 Finance
  • Access4Finance
  • Accord
  • acquisition
  • Adam Tyler
  • Adelle Rhule-Martin
  • Adrian Moloney
  • Advertising Standards Agency
  • Advertising Standards Agnecy
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
Facebook LinkedIn Twitter

© CEDAC Media Limited | Terms & Conditions

Advice to readers

While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.


© Mortgage Introducer Limited: Our Privacy and Cookies Policy

TPG

www.mortgageintroducer.com
www.investmentinternational.com
www.homebuying.co.uk
www.propertywire.com
www.everyinvestor.co.uk

Close

Enter the site

Login

Password

Remember me

Forgot password?

Login