According to the latest figures from the Finance & Leasing Association (FLA), the number of new second charge agreements came to 3,786 in September, which is up 22% year-on-year.
In the three months to September 2025, the value of new second charge business stood at £579m, a rise of 25% on the same period last year.
The number of new agreements during the three months to September was 11,108, up 15% on last year.
Looking at the 12 months to September 2025, the value of new business was £1.99bn, a rise of 24% on the previous year.
The number of new agreements during the period was 39,295, an increase of 15% year-on-year.
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Fiona Hoyle, director of consumer and mortgage finance and inclusion at the FLA, said: “September saw the second charge mortgage market report its strongest monthly growth in the value of new business in 2025 so far, to reach the highest monthly total since June 2008.
“This was set against a backdrop of growth across most of the main consumer finance products provided by FLA members. In the nine months to September 2025, new business volumes in the second charge mortgage market were 13% higher than in the same period in 2024.
“The proportion of new business volumes [that] were solely for the consolidation of existing loans increased slightly in September compared with the previous month to 59.5%.
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
