The first reports on second charge financing of 2018 are suggesting that the rise in new business numbers recorded in 2017 will continue in 2018.
However, it is felt that the increasing popularity of secured loans did not happen without a lot of effort from brokers and lenders alike. What the new figures don’t reveal is just how much arduous work has gone into building business volumes by awareness. The second charge industry should be particularly proud of how it has succeeded in promoting secured loans to brokers and the public.
It is believed that the sector is more likely to grow at a measured pace rather than a “boom & bust” situation, backed by the increasing numbers of advisers who are now aware of where secured loans can sit in their advice process.
If you look closely at the positives a secured loan can offer a borrower, then it is easy to see why this form of lending is being welcomed by all.
The last 12 months has seen a substantial increase in the number of loan types available to a property owner. Not only this but new lenders have entered the market which has to be good for the long-term growth and stability of the second charge industry.
These days due to the vast choices open to the prospective borrower it is vital they get a professional adviser to point them in the right direction. With so many loans and re-mortgages available anybody contemplating taking out loan would be very well advised to seek broker advice.
Can we assist?
If you would like to discuss your future and present borrowing needs, please do make contact and one of our qualified advisers will be pleased to help.