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Second charge lending hits £81m in February

by: Rebekah Commane
  • 13/04/2016
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Second charge lending hits £81m in February
The number of second charge mortgages issued in February increased to £81m, figures by the Finance and Leasing Association (FLA) show.

The figure reflects a 40% increase in the value of second charges taken out in February 2016 compared to a year earlier and a 17% increase in volume.

The FLA also found that £887m of second charge mortgages were written in the 12 months to February, a 36% increase on the previous year.

Head of research and chief economist at the FLA, Geraldine Kilkelly, said: “The latest figures reflect robust consumer confidence, particularly with regard to their own personal finances.

“In 2015, household real disposable incomes grew at their fastest rate since 2001 and should continue to be supported this year by low interest and inflation rates as well as stronger wage growth.”

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