The latest figures from the Finance & Leasing Association show that August’s second charge lending by volume was 10% higher year on year at 3,459.

The total value of loans for the year to August was 23% higher than the corresponding period of 2024 at £1.937bn.

The total number of loans for the year to August was 16% higher than the same period a year earlier at 38,614.

Finance and Leasing Association director of consumer and mortgage finance and inclusion Fiona Hoyle says: “The second charge mortgage market continued to report double-digit growth in August but at a slower rate than in recent months. In the eight months to August 2025, new business volumes were 12% higher than in the same period in 2024.”

“The proportion of new business volumes which were solely for the consolidation of existing loans increased in August to 59.4%, the highest proportion so far this year.”