Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Second Charge Mortgage Volumes Dip 1% in May, FLA Reports
Second charge mortgage new business volumes fell by 1% in May 2026, according to figures from the Finance & Leasing Association (FLA). Despite the dip in volume, the value of new business increased by 9% during the same month.
The FLA reported that £175 million of new second charge mortgage business was agreed in May, with a total of 3,245 new agreements. Over the three months to May, new second charge business totalled £594 million, comprising 10,878 loans.
In the year to May 2026, £2.35 billion of new second charge business was written, representing a 13% increase. The number of loans in the same period rose by 19% to 44,402.
The FLA noted that May marked the first contraction in new business volumes since April 2025. However, new business volumes grew by 17% in the first five months of 2026.
These figures may be of interest to UK letting agents and inventory clerks monitoring trends in property finance and the availability of funding options for landlords and tenants.
Source: Mortgage Strategy