Secured lending at 4yr high
Secured loan lending in June stood at £41.9m, a small drop of £1.79m on May’s figure. On a year-on-year basis second charge lending was 49.3% higher than the same period last year.
June also saw the entrance of two new lenders to the market with the launch of TFS Loan Processing and Clearly Loans.
Matt Tristram, director of Loans Warehouse & Co-Founder of Clearly Loans said that the improvement in the market has started to see increased interest in the sector from networks.
Emma Hollingworth, mortgage sales director of Intrinsic, said: “A straightforward mortgage case is becoming a bit of an endangered species which is why Intrinsic is keen to ensure our members have as many alternatives to hand as well as the ability to secure a consistent income stream.”