The Finance & Leasing Association (FLA) has reputed that second charge mortgage volumes increased by 31% in March.

The value of new business for the month was £108 million.

Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “In March, the second charge mortgage market reported its highest level of monthly new business volumes since October 2008.

“It is a competitive and innovative market for consumers, with a growing number of broker partners.”