{"id":72871,"date":"2021-12-16T09:51:55","date_gmt":"2021-12-16T09:51:55","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72871"},"modified":"2021-12-16T09:51:56","modified_gmt":"2021-12-16T09:51:56","slug":"second-charge-market-returns-to-more-normal-levels","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/second-charge-market-returns-to-more-normal-levels\/","title":{"rendered":"Second charge market \u2018returns to more normal levels\u2019: FLA"},"content":{"rendered":"\n

The value of new second charge business came to \u00a3109m across 2,543 new agreements in October, which following September\u2019s positive figures, has been cheered as a \u201creturn to more normal monthly levels.\u201d<\/p>\n\n\n\n

So says the Finance and Leasing Association (FLA) director of consumer finance Fiona Hoyle regarding the association\u2019s latest figures, which describe the value of new business in October growing 55% on the year.<\/p>\n\n\n\n

In the 12 months to October, the value of new business came to to \u00a31.04bn, the report adds \u2013 a 24% annual increase.<\/p>\n\n\n\n

And the total of new agreements in the 12 months to October now stands at 24,626 \u2013 an annual rise of 26%.<\/p>\n\n\n\n

To find out more about how we can assist you with your Second Charge Mortgage<\/strong> please click here<\/a><\/em><\/p>\n\n\n\n

Hoyle continues: \u201cWe expect new business volumes to continue to grow despite heightened economic uncertainty over the coming months.\u201d<\/p>\n\n\n\n

Paul McGerrigan agrees. He says: \u201cComparing the FLA figures out today with our own October and November performance, we calculate that the UK\u2019s annual secured lending will comfortably exceed 2018\u2019s total of almost \u00a31.07bn \u2013 though this year\u2019s final numbers may come in slightly behind the peak (post 2008 crash) of \u00a31.3bn achieved in 2019.\u201d<\/p>\n\n\n\n

He adds: \u201cLooking to the future \u2013 second charge lending typically reduces over December as families concentrate on Christmas, with a reawakening in January.<\/p>\n\n\n\n

\u201cJudging by this year\u2019s growth in lending and house prices, we believe that \u2013 if the economy remains stable and unemployment under control \u2013 next year will experience growth beyond 2019\u2019s figures.\u201d<\/p>\n\n\n\n

By Gary Adams<\/em><\/p>\n\n\n\n

Source: Mortgage Strategy<\/a><\/p>\n\n\n\n

Discover our Second Charge Mortgage Broker<\/strong><\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The value of new second charge business came to \u00a3109m across 2,543 new agreements in October, which following September\u2019s positive figures, has been cheered as a \u201creturn to more normal monthly levels.\u201d So says the Finance and Leasing Association (FLA) director of consumer finance Fiona Hoyle regarding the association\u2019s latest figures, which describe the value […]<\/p>\n","protected":false},"author":1,"featured_media":71812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2172,2095,2164],"yst_prominent_words":[1238,907,1362,488,1707,105,104,33,485,395,692],"acf":[],"yoast_head":"\nSecond charge market \u2018returns to more normal levels\u2019: FLA<\/title>\n<meta name=\"description\" content=\"The value of new second charge business came to \u00a3109m across 2,543 new agreements in October, which following September\u2019s positive figures, has been 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