Second charge mortgage new business volumes rose 27% by volume and 28% by value in November 2025, according to figures from the Finance & Leasing Association (FLA).
There was £203 million of new business agreed in November, up 28% and 3,934 new agreements in the month, a rise of 27%.
The three months to November saw £628 million of new second charge business, comprising 11,958 loans.
There was £2.09 billion of new second charge business written in the year to November, a rise of 23%, with 40,886 loans, an increase of 16%.
FLA director of consumer & mortgage finance and inclusion Fiona Hoyle said: “The second charge mortgage market has reported growth in new business volumes in all but one month in 2025 so far and is ending the year growing as strongly as it began it.
“The proportion of new business volumes which were solely for the consolidation of existing loans fell in November compared with the previous month at 58%. A further 22.4% were for home improvements and loan consolidation, and 10.8% solely for home improvements.”
Previous FLA figures for October showed the value of second charge mortgage lending increase by 32% year on year to £223 million.
Second charge lending by volume was 22% higher year on year at 4,238.
