The value of second mortgage loans rose 36% year-on-year to £202 million in September.
The latest figures from the Finance & Leasing Association show that second loans in September were up 22% year-on-year in volume at 3,786.
The total value of loans for the year to August was 24% higher than the corresponding period of 2024, at £1.991 billion.
At 39,295, the total number of loans for the year to August was 15% higher than the same period a year earlier.
“In September, the second mortgage market reported its strongest monthly growth in the value of new origination yet in 2025, to reach the highest monthly total since June 2008.”
“This occurred against a backdrop of growth in most of the key consumer finance products offered by FLA members. In the nine months to September 2025, new business volumes in the second mortgage market were 13% higher than the same period in 2024.
“The share of new contract volumes intended exclusively for the consolidation of existing loans increased slightly in September compared to the previous month, to 59.5%.
“As always, customers concerned about meeting payments should speak to their lender as soon as possible to find a resolution.”