Second charge lending increases to four-year high - Mortgages - News - Moneyfacts


Second charge lending increases to four-year high

Second charge lending increases to four-year high

Category: Mortgages

Updated: 18/07/2013
First Published: 18/07/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Second charge mortgage lending exceeded £40 million for the third consecutive month during June this year, climbing to over £41 million, latest figures have shown.

The volume of second charge loans issued to borrowers last month increased by 49.3% compared with the same period in 2012, representing the highest quarterly level of growth for the sector since the third quarter of 2009.

Despite the annual rise in second charge lending, secured lending was found to have dropped by £1.79 million between May and June this year to £41.9 million.

Loans Warehouse, which published the findings, said: "The amount lent between April and June 2013 stands at £127,281,169.50, which is the best three month lending period since July to September 2009.

"In fact, you have to go back to 2008 to the second quarter to find a three month period that surpasses the latest quarter."

What next?

Compare all secured loans with our new secured loans chart

Search all mortgages

Mortgage repayment calculator

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Does your mortgage lender owe you money?

Earlier this week, the financial watchdog revealed that hundreds of thousands of mortgage holders could have been overcharged by their lender. Are you one of the many who could be in line for a windfall?

Do you think your home will rise in value?

There’s been a lot of talk recently about the rate of house price growth slowing, but is it affecting your personal expectations? According to research, it could be, with fewer people now expecting the value of their property to increase.

Confidence among “second steppers” is on the rise

We all know how difficult it can be taking that first step on the ladder, but what about the second step? In many cases, getting onto the next rung can be just as challenging, but happily, confidence among this cohort appears to be on the rise.