Category: Second Charge
Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “The low number of repossessions in the market shows that lenders are committed to helping those in financial difficulties.”
Founded as a second charge specialist the company then became a large distributor and expanded into first charge mortgages through its Fluent Mortgages division in 2017.
The were 6,389 new agreements in the three months to December, up 18% year-on-year and 23,529 in the 12 months to December, an increase of 7% year-on-year.
In the residential sector for the first time two of the top five most popular searches feature adverse credit conditions, with self-employed, one years’ accounts being the top search followed by maximum age at end of term.
The lender has hired Kevin Glover to provide support to brokers and property finance professionals specialising in bridging and development finance in the North of England and has appointed Sharon Clarke & Pauline Rylands as relationship managers for its second charge sales team.
The Finance & Leasing Association showed the value of new business in the second charge market grew to £99m in November 2018, up 21% year-on-year and bringing the total value of the second charge market to almost £1.1bn for the 12 months to November last year.
Danson previously managed a portfolio of 500 high net worth clients for RBS.
There was £99m of new business, comprised of 2,282 new agreements.
Help to Buy is in the top five residential searches for the second month running, while capital raising – debt consolidation’ appeared for the first time. Making up the other places were ‘maximum loan to age’ and ‘self-employed borrowers with one years’ accounts’.