According to data collected by Loans Warehouse, lending decreased 4% in the second fee between July and August 2021.
The total number of completions fell to 2,344 last month.
Lending totaled £ 95.5 million in August, a decrease of £ 5.6 million from July 2021.
The majority of brokers are seeing an increase in second-load renovations
The average completion times were 17.10 days, 0.5 days faster than in the previous month.
The majority of the products were provided under 85% loan-to-value (LTV) at 75.2%.
The most popular reason for borrowing was consolidation at 47.54%.
This was followed by consolidation and home improvement needs with 29.44%.
Matt Tristram, Managing Director of Loans Warehouse said, âThe numbers reported directly to Loans Warehouse by the second-charge lenders confirm that total lending in August 2021 totaled £ 95.6 million.
âWhile these numbers show a slight decrease from £ 101.2m in July, they show consistency as lending has a three-month average of over £ 100m for the first time since the pandemic began.
âAs expected, post-second debit lending is largely above the numbers reported in 2020, with the number up 122% year-over-year in August.
âA more accurate comparison would be the 2019 numbers reported by the FLA, for which August was £ 105 million.
âThe most heavily reported change was in higher LTV loans, which were down just under 10% from numbers published in June 2021.
âThe second lending that has been carried out since the beginning of the year has now exceeded half a billion, with 595 million.