Eddie Lau, broker account manager at Norton Broker Services, explores the key characteristics of second charge mortgages, how they can be used to support borrowers with complex...

Second charge lending saw double-digit growth in new business by value and volume.

Rates now start from 6.34%.

Second charge lending grew by 17% last year to its highest level since 2009.

The specialist lender has lowered rates on its regulated and unregulated product ranges.

The lender has enhanced its second charge offering with desktop valuations and digital applications.

The platform streamlines the sourcing process and provides instant access to multiple lender quotes. 

The second charge lender is transitioning from its launch phase into a period of growth and long-term strategic planning.

A continuation of current trends means the market could achieve 39% overall growth from 2023-25.

The number of second charge agreements rose by 17% in November.