Secured lending was the preferred option for homeowners looking to borrow money last year, according to Alliance & Leicester. A recent survey by the Association of Finance Brokers (AFB) also found that around half the mortgage advisers it questioned said they now offered advice about homeowner loans. So if you are not currently offering a secured loan service, why not?
It’s not as if there is not a great choice of both product and lender. Despite some recent lender closures due to the credit crunch, there has been an influx of new entrants over recent years. This made the established players buck up their ideas and they have been forced to review and update their client offering. If you have not yet dipped your toe in the second charge sea then it might be due to concerns about business practices in the sector. It’s true that the secured loan market is not currently fully regulated. Second charges are regulated up to £25,000 under the Consumer Credit Ac...
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