06 August, 2015
category: Commercial, Residential, Secured
Second charge mortgage lending increased by 26% in the 12 months to June 2015 year-on-year, figures from the Finance & Leasing Association.
The FLA recorded £666m of second charge lending annually, £181m in the three months to June and £63m just in June.
Growth in yearly seconds lending outstripped other forms of consumer credit such as car finance (14%), retail store and online credit (4%) and credit cards & personal loans (1%).
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “June saw stronger growth across the main product lines as consumers used responsibly-provided credit to support essential household purchases.”
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