The Finance & Leasing Association (FLA) has published the June 2018 new business figures for the second charge mortgage market.

The FLA reported that the value of new business during the month totalled £91 million. This was down 6% year-on-year.

The number of new agreements in June was 1,985, down 3% year-on-year.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The second charge mortgage market reported new business volumes up in the first half of 2018 by 2%, compared with the same period in 2017.

“This was in line with stable new business volumes reported by the wider mortgage market over the same period.”