The data showed there were 3,919 new second charge mortgage agreements completed during the month, up 1% compared with July 2025. The value of new business reached £205m, representing a 2% increase over the same period.
Over the three months to July, new business volumes totalled 10,992 agreements, a rise of 3% year-on-year, while the value of lending increased by 9% to £585m.
On a rolling 12-month basis, the market recorded stronger growth. The number of new agreements reached 44,781, up 17% from the previous year, while the value of new business climbed 25% to £2.38bn.
Commenting on the figures, Fiona Hoyle, director of consumer finance and mortgages and inclusion at the FLA, said the second charge mortgage market continued to expand in July, although growth had slowed compared with earlier in the year.
“The second charge mortgage market continued to grow in July, although at a more modest pace than earlier in the year. Looking ahead, the prospect of market interest rates remaining higher for longer may continue to temper demand,” she said.
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