Second charge mortgage new business volumes rose 19% by volume and 26% by value in January 2026, according to figures from the Finance & Leasing Association.
There was £183 million of new business agreed in January, with 3,456 new agreements in the month.
The three months to January saw £568 million of new second charge business, comprising 10,769 loans.
There was £2.18 billion of new second charge business written in the year to January, a rise of 26%, with 42,309 loans, an increase of 17%.
Finance & Leasing Association director Fiona Hoyle says: “The second charge mortgage market made a positive start to 2026 although the pace of growth slowed slightly compared with recent months.”
“Following the FCA’s recent report on second charge mortgages, the FLA will be working closely with the regulator to understand their findings as we continue to support customers who want to consolidate higher-interest rate loans into more affordable borrowing.”
