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‘There is pent up demand for secured loans out there’ – Grundy

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  • 20/05/2021
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‘There is pent up demand for secured loans out there’ – Grundy
The second charge market hit a low of £21m in May 2020 but the sector has seen a real resurgence and risen back up to meet demand.

Marie Grundy, MD second charges at West One Loans speaks to Mortgage Solutions group editor Victoria Hartley about the way lenders adjusted their credit risk appetite during the pandemic, allowing the market to rise to £90m in March, a 31 per cent month-on-month increase on February.

“What we’ve seen is quite a lot of pent up demand from borrowers since the pandemic. Some of the more popular reasons include home improvements, with more and more people working from home and wanting to make changes to their lifestyles.”

For more on how the pandemic has changed the second charge market, watch the second in this series of one-to-ones with West One Loans below.

 

 

 

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Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media. She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997. Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews. Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/ Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.

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