Loans Warehouse has published its latest secured loan index.
July saw a post credit crunch high in secured lending volumes, with an increase of 22% against the same time 12 months ago and 10.7% month-on-month growth.
The month’s total was £56,580,496, breaking the March 2014 record.
The secured loan distributor said year to date lending figures are up 31% on the same stage in 2013, which equates to additional lending of £85,160,000 in the first seven months of the year.
Matt Tristram, co-founder and director of Loans Warehouse & Clearly Loans, said: “Everywhere you look at the moment there seems to be growth. In the last few weeks alone I’ve seen headlines like ‘Highest annual growth in four years for Scottish property’ from LSL Property Services House Price Index, ‘Healthy supply returns to housing market’ reported in National Mortgage Market Monitor from Haart and ‘First-time buyer sales hit seven-year high’ from research carried out by Your Move and Reeds Rains.
“Additionally the Council of Mortgage Lenders (CML) reported ‘Mortgage arrears and possessions decline again’ and last month the Finance & Leasing Association (FLA) released figures showing a 27.3% fall in second charge mortgage repossessions in Q2 2014, compared with the same period last year. In the first half of 2014, repossessions were down by 36.2%.
“To me this all suggests growth yet sensible lending decisions continue to be made. That’s just my opinion.”
