Second charge mortgage new business volumes down 3% by volume and up 4% by value in August 2026, according to figures from the Finance & Leasing Association.

There was £183 million of new business agreed in August, with 3,347 new agreements in the month.

The three months to August saw £595 million of new second charge business, comprising 11,113 loans.

There was £2.39 billion of new second charge business written in the year to August, a rise of 3%, with 44,709 loans, an increase of 16%.

FLA director of consumer finance, mortgages and inclusion Fiona Hoyle says: “The second charge mortgage market reported lower new business volumes, year-on-year, for only the second time this year. In the eight months to August 2026, the number of new second charge mortgages increased by 11%.”

“While new business volumes eased slightly in August, the second charge mortgage market continues to perform well by historical standards. Growth over the year to date highlights the sector’s resilience and its importance in providing consumers with flexible borrowing options.”

“Looking ahead, lenders remain well placed to support customers’ financing needs, although activity is likely to reflect wider pressures on household confidence.”