December 2018 second charge volumes totalled £80 million, a 6% increase on the previous year, the Finance & Leasing Association (FLA) has reported.

There were 1,792 new second charge agreements during the month, 13% up on the same month in 2017.

Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “December saw the market report its sixth consecutive month of growth, contributing to solid single-digit new business growth in 2018 as a whole.

“The second charge mortgage market is expected to see further single-digit new business growth in 2019 overall.”