The Finance & Leasing Association (FLA) has reported that the second charge market saw its monthly volumes rise by 6% in August.

The value of new business during the month was £92 million, 2% does year-on-year.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The second charge mortgage market has reported new business growth in six out of eight months so far in 2018. 

“With the number of new agreements in this market up by 3% in the first eight months of 2018, we continue to expect single-digit growth in 2018 as a whole.”