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Do you expect to see less or more second charge mortgage lenders in 2018?

Secured lending volumes rise by almost a third

Secured lending volumes rise by almost a third

 According to the Loans Warehouse Secured Lending Index, in the first half of this year, there has been an increase in secured lending volumes by 32.8 per cent.

This figure is £74,860,000 more than the total value lent by the end of June last year.

The new index also showed that the total in secured lending this year has reached £301,350,241, where it has risen by 22 per cent from June 2013.

Commenting on the surge in lending, Matt Tristram, Co-Founder & Director of Loans Warehouse & Clearly Loans said: “The sector has definitely found a level it's comfortable at, which at present is around the £50 million per month mark. 

“However we believe there is about to be a potential game changer with the launch of Optimum Credit...”

Matt added: “There is some mystery around the Cardiff based lender as there is no published matrix and a purely score based system, something the industry has always steered away from, priding itself on manual underwriting, so it will be interesting to see how brokers react to a new way of working.”

The first half of 2014 has also marked the highest six-month period of sustained lending since the end of 2008 when the credit crunch began to take effect on second charge lending.

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