{"id":72464,"date":"2021-02-11T12:34:02","date_gmt":"2021-02-11T12:34:02","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72464"},"modified":"2021-02-11T12:34:04","modified_gmt":"2021-02-11T12:34:04","slug":"second-charge-business-down-but-contraction-easing-fla","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/second-charge-business-down-but-contraction-easing-fla\/","title":{"rendered":"Second charge business down but contraction easing: FLA"},"content":{"rendered":"\n<p>The value of new second charge business stood at \u00a375m in November 2020 in the UK, down 35 per cent on the same month in the previous year.<\/p>\n\n\n\n<p>The latest figures from the Finance and Leasing Association show the number of new arrangements in the month was 1,857, down 28 per cent by the same comparison.<\/p>\n\n\n\n<p>For the three months to November 2020, second charge business was worth \u00a3199m, down 41 per cent and down 39 per cent on the 12 months to November to \u00a3759m.<\/p>\n\n\n\n<p>The number of new arrangements in the 12 months to November 2020 was 17,651 down 36 per cent on the previous 12 months.<\/p>\n\n\n\n<p><em>To find out more about how we can assist you with your Second Charge Mortgage please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em><\/p>\n\n\n\n<p>FLA head of consumer and mortgage finance Fiona Hoyle says: \u201cThe level of new business by value and volume in the second charge mortgage market continued to improve in November and the rate of contraction compared with pre-crisis levels continued to ease. In the eleven months to November 2020, new business volumes in this market were 40 per cent lower than in the same period in 2019.<\/p>\n\n\n\n<p>\u201cLenders are continuing to do all they can to support customers during this challenging period. If customers are experiencing payment difficulties we encourage them to contact their lender as soon as possible.\u201d<\/p>\n\n\n\n<p><em>By Rebekah Commane<\/em><\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.mortgagestrategy.co.uk\/news\/second-charge-business-down-but-contraction-easing-fla\/\" target=\"_blank\">Mortgage Strategy<\/a><\/p>\n\n\n\n<p><em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\">Mortgage Broker<\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The value of new second charge business stood at \u00a375m in November 2020 in the UK, down 35 per cent on the same month in the previous year. The latest figures from the Finance and Leasing Association show the number of new arrangements in the month was 1,857, down 28 per cent by the same [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":71364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2147,2146,2095],"yst_prominent_words":[1238,1268,1362,106,488,105,33,387,485,692],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Second charge business down but contraction easing: FLA<\/title>\n<meta name=\"description\" content=\"The value of new second charge business stood at \u00a375m in November 2020 in the UK, down 35 per cent on the same month in the previous year.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, 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