Second charge market continues steady growth

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  • 08/06/2018
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Second charge market continues steady growth
The second charge market continued its steady growth in April with new business growth of 2% by value and 8% by volume in April, compared with the same period in 2017.

 

The results are likely to be seen as a welcome recovery after a surprise sharp slump in March.

In total 1,771 agreements were completed in April worth £83m.

The market maintained its strong annual growth, with value of business completed up 11% and the number of deals up 9% in the 12 months to April.

Overall, £1.025bn of second charge mortgages were completed in the previous 12 months in 22,145 deals.

Finance & Leasing Association head of consumer and mortgage finance Fiona Hoyle said: “In the three months to April 2018, the number of new second charge mortgages was 5,339, unchanged on the same period in 2017.”

 

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