According to the latest data from the Finance & Leasing Association (FLA), the number of new second charge agreements stood at 10,661, a rise of 14% compared to the same period last year.
In the 12 months to July 2025, the number of new second charge agreements came to 38,304, an increase of 16% on the prior period.
The report stated that the value of new second charge business in July was £201m, up 23% on the previous year.
Looking at the three months to July 2025, the value of new business came to £530m, a rise of 20% on the same period last year.
For the 12 months to July 2025, the value of new business stood at £1.9bn, a jump of 24% year-on-year.
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Fiona Hoyle, director of consumer and mortgage finance and inclusion at the FLA, said: “The second charge mortgage market continued to strengthen in July, with monthly new business by value reaching its highest level since June 2008. In the seven months to July 2025, new business volumes were 13% higher than in the same period in 2024.
“The proportion of new business volumes [that] were totally or in part for the consolidation of existing loans remained stable at 81% in the seven months to July 2025, similar to the same period in 2024.
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
