Freedom Finance sets up intermediary proposition amid second charge boom

Freedom 4 Intermediaries was launched in response to growing demand for second charge solutions and the firm noted that in 2023 alone, enquiries from intermediaries had tripled. 

The firm said the service would also align with Consumer Duty by opening advisers up to more solutions for their clients.

As well as offering advisers a way to broaden their business offering without additional compliance or regulatory risk, the firm said partners of Freedom 4 Intermediaries would receive referral fees quicker than the industry average. The firm said it will pay out 50 per cent of the net revenue to broker partners 24 hours after a case is completed. 

Richard Sharp, managing director of Freedom Finance Mortgages, said: “The refresh is a key initiative for Freedom Finance and brings a focused and market-leading proposition to the intermediary market, which becomes ever more important when considering the macro-economic impacts we are currently experiencing within the UK.

“I look forward to Freedom Finance partnering with the intermediary market and delivering fantastic financial solutions to all of our customers.” 

Nick Jones, who joined the business earlier this year, will take on the role of director of Freedom 4 Intermediaries to lead the division’s strategic development and growth. 

Jones added: “The update to our proposition for intermediaries comes at a hugely exciting time for the second charge mortgage sector. 

“Tailwinds ranging from rate rises and tightened affordability in the first charge mortgage market to a growing demand for debt consolidation mean that an increasing number of intermediaries should be considering second charge mortgages for their clients. 

“Our service delivers excellent results for intermediaries, helping them to grow their business and aiding them to support the regulatory demands of the upcoming Consumer Duty by embracing the spirit of variety and personalisation.”