The Finance & Leasing Association (FLA) has reported that the second charge mortgage market made a strong start to 2019.

New business was up 12% by value and 18% by volume in January, compared with the same month in 2018.

The value of new business was £85, with 1,945 new loans agreed.

Fiona Hoyle, the FLA’s head of consumer and mortgage finance, said: “This is a strong performance, and as most of the market is broker-introduced, it also suggests that knowledge of second charge mortgages among brokers is growing.”