Interbridge launches into second charge mortgages

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  • 16/05/2024
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Interbridge launches into second charge mortgages
Interbridge Mortgages has become the latest entrant into the second charge mortgage space and will offer “dynamic pricing” and a flex product range.

The lender will offer second charge loans in England, Scotland and Wales through a panel of specialist broker partners.

The firm said that it will leverage technology to offer a “paperless application journey” and, along with “specialist underwriting expertise”, would “drive its ambition to deliver best-in-class service”.

Interbridge said that its management team is made up of “highly experienced professionals” in the second charge market, and the lender will “deliver an experience for both brokers and customers with less friction and more certainty”.

The lender says it will have “dynamic pricing” and a flex product range for customers that need more “tailored solutions”.

Jonny Jones (pictured), CEO at Interbridge Mortgages, said: “The second charge mortgage market continues to evolve at pace, and for lenders operating within this sector, it’s all about ensuring that every part of the process enables the customer to come first.

“Through our technology, products and service, Interbridge Mortgages will drive change to create the right customer outcomes. Our specialist underwriting expertise and customer management will enable us to offer accurate, efficient and responsible decisions, and we are greatly looking forward to the positive impact we can make on such an important sector for the intermediary market and for a variety of borrowers across the UK.”

There have been rumours circulating in the market about new lenders entering the second charge market, with many saying it is a growing opportunity, as it may provide an alternative option to remortgaging.

Recent figures from the Finance and Leasing Association (FLA) showed that, in the 12 months to March, the value of new second charge business stood at £1.4bn, while the number of new second charge agreements was pegged at 31,084. The figures are 7% down on the previous year.

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