In the 12 months to January there were 23,829 new agreements, an increase of eight per cent on the previous year. They were valued £1.78bn which was five per cent higher than 12 months ago.
In January 2019, the new agreements stood at 1,945, valued £85m, rising by 18 and 12 per cent from January 2018, respectively.
In the three months to January, the number of new agreements rose by 18 per cent to 6,015 worth £264m, 13 per cent higher than the same quarter a year ago.
Fiona Hoyle, head of consumer and mortgage finance at the FLA (pictured), said that the second charge mortgage market made an impressive start to 2019.
She added: “This is a strong performance, and as most of the market is broker-introduced, it also suggests that knowledge of second charge mortgages among brokers is growing.”