New figures released by the Finance & Leasing Association (FLA) show that second-charge mortgage new business volumes grew by 9% in February 2025.

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported further growth in February but at a slower pace than in recent months.

“The distribution of new business by purpose of loan in February 2025 showed that the proportion of new agreements which were for the consolidation of existing loans at 58.1%; for home improvements and the consolidation of existing loans at 22.9%; and for home improvements only at 11.1%.”