Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said:
“The second charge mortgage market returned to growth in June and delivered a strong second quarter overall, reflecting continued demand from homeowners looking to manage their finances effectively.
“The fact that loan consolidation accounted for at least 60% of new business highlights the important role second charge mortgages play in helping consumers refinance existing borrowing without disturbing their primary mortgage arrangements.
“The FCA’s recent review highlighted important areas for the second charge mortgage market. The FLA and its members are considering the findings carefully, with a clear focus on supporting good outcomes for customers.”
Table 1: New second charge mortgage lending
| Jun 2026 | %
change on prev. year |
3 months to Jun 2026 | % change on prev. year | 12 months to Jun 2026 | % change on prev. year | |
| Value of new business (£m) | 205 | 16 | 571 | 18 | 2,383 | 27 |
| Number of new agreements (No.) | 3,828 | 9 | 10,577 | 9 | 44,725 | 18 |
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.
