More customers like second charge simplicity - Fluent
14 May 2019
With recent FLA figures showing that second charge business was up 31% in March, Fluent for Advisers’ Head of Intermediaries, Jeff Davidson believes that simplicity and quick access to funds are the main reasons behind the steady increase in new second charge business.
He said, “More advisers and their customers have been coming to us because they recognise that a second charge mortgage makes capital raising simple and clear cut, with funds in their account quickly and with no fuss.
Without having to disturb a perfectly good first mortgage and with rates starting at under 3%, second charge loans make an attractive proposition for anyone who wants to raise money for almost any purpose and which can be repaid at any time without penalty in some cases or as little as one month’s interest.
Jeff added, “After all the long winded debates about the suitability of second charge or remortgaging, it is good to see that advisers are seeing just how versatile a second charge mortgage can be.”
