The value of second charge mortgage lending advanced in July increased by 23% year on year to £201m – the highest figure since June 2008.
By volume, July’s second charge lending was 15% higher year on year at 3,863.
The total value of loans for the year to July was 24% higher than the corresponding period of 2024 at £1.9bn.
The total number of loans for the year to July was 16% higher than the same period a year earlier at 38,304.
Finance & Leasing Association director of consumer and mortgage finance and inclusion Fiona Hoyle says: “The second charge mortgage market continued to strengthen in July.
“The proportion of new business volumes which were totally or in part for the consolidation of existing loans remained stable at 81% in the seven months to July 2025, similar to the same period in 2024.
“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”
June’s figures from the FLA showed a 22% increase in second-charge lending.
