Second Charge Mortgage ComparisonComparison of mortgage fees for the second time
Finance & Leasing Association (FLA) numbers show that there were 1,826 new secondary fee arrangements worth £86 million in March. Looking on a sequential data base, our franchise is stable and grew by 1% year-on-year to 5,213 new borrowings. The value of new wins remained unchanged at 244 million in the first quarters of 2017 and 2018.
"Monthly numbers are not trendy, and while the month-to-month comparison shows a decline, the first trimester shows that the industry is above last year's levels. In the first three moths of 2018, the number of second mortgage charges for the redemption of mortgages increased from 38 in the preceding to 46 and from 25 in the prior year in the first trimester of 2017.
It is the highest figure since the third quater of 2015, when there were 56 second take-backs. Mortgage redemption interest rates (as a percent of total debt outstanding) were 0.09% for the twelve-month period ended March 2018.
Bypassing the loan register
Based on Finance and Leasing Association (FLA) and Enterprise Finance's own research and inputs, the paper presents a detailed review of financial markets up to September 2017, with a strong emphasis on the third fiscal quarter. Based on the findings of the Finance and Leasing Association (FLA), Enterprise Finance's research and inputs, the paper presents a detailed review of financial markets up to September 2017. The number of cases rose by 9% on an annualised basis from just over 19,000 in March 2017 to almost 21,000 in September, while the median credit volume rose by 3% to almost £47,000.
September was a particularly calmer period compared to 2017, with 77m compared to 2017, and September 2016 a calmer one compared to 2017, after a sharp performance in terms of credit taken per month dating back to February. Why is this growing? In spite of a 1.3% increase in the number of housing deals between June and July, the volume in August dropped by 0.5%, followed by a further 1st quarter of the year.
8 percent decrease in September. Meanwhile, Rightmove's close monitored housing index showed that the UK asking rate dropped 1. 2 per cent monthly to 9 September, the third drop in four month. Whereas one can anticipate a more quiet traditional season in the summers, these numbers still present a rather dampened image.