Second charge mortgage new business volumes rose 20% by volume and 36% by value in March 2026, according to figures from the Finance & Leasing Association.

There was £228 million of new business agreed in March, with 4,129 new agreements in the month.

The three months to March saw £625 million of new second charge business, comprising 11,489 loans.

There was £2.3 billion of new second charge business written in the year to March, a rise of 22%, with 43,843 loans, an increase of 18%.

Finance & Leasing Association director of consumer finance and mortgages and inclusion Fiona Hoyle says: “The second charge mortgage market continued to expand in Q1 2026, with new business up 33% by value to £625 million and volumes rising 22% to almost 11,500 new agreements, year-on-year. This reflects demand for flexible borrowing options to support household budgeting.”

“These figures highlight the continued strength of the second charge mortgage market. At a time when many customers are considering their borrowing options carefully, second charge mortgages provide a flexible route to additional finance while allowing borrowers to retain their existing mortgage arrangements.”