Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion at the Finance & Leasing Association (FLA), said:
“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.
“For homeowners looking to access housing equity while retaining an existing low-rate mortgage, second charge mortgages continue to provide a flexible and attractive funding option.”
Table 1: New second charge mortgage lending
| Jul 2026 | %
change on prev. year |
3 months to Jul 2026 | % change on prev. year | 12 months to Jul 2026 | % change on prev. year | |
| Value of new business (£m) | 205 | 2 | 585 | 9 | 2,384 | 25 |
| Number of new agreements (No.) | 3,919 | 1 | 10,992 | 3 | 44,781 | 17 |
Note to editors:
- The FLA Impact Report 2026, The Hidden Engine Behind UK Growth, was published on 29 June 2026. Further details may be found here.
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2025, FLA members provided £163 billion of new finance to UK businesses and households. £122 billion of this was in the form of consumer credit, representing almost a third of total new consumer credit written in the UK in 2025.
- For media enquiries, please contact the FLA press office on 020 7420 9656.
