The continuing saga of second charge mortgages versus remortgages is often portrayed as a good cop-bad cop story.
On the one hand, the hardened mindset of the adviser who believes that second charge mortgages are never appropriate and will not offer any advice on them.
On the other, the zealots for secured loans, who believe that second charge loans are the right choice for those homeowners seeking to raise capital.
Both of these are entrenched positions, but does it have to be this way?
Education not force
Persuading advisers to embrace second charge mortgages by force is just not going to work. Meanwhile, advisers who see capital raising as a remortgage solution every time, are just going to make second charge hardliners fight more to force their view on reluctant advisers.
Both positions are wrong.
We believe education and demonstration, rather than force is the way forward.
In our experience, advisers become more receptive to second charge mortgages when examples can prove there are instances where a secured loan is the best option for a customer.