Second charge specialist launches into Scotland

The lender said that now was the right time to target Scotland as there was a gap in the market with a limited number of specialist second charge lenders operating in the country.

Managing director Tony Marshall (pictured) said the products were already being well received north of the border.

“From the broker research we did last year in the run up to MCD [Mortgage Credit Directive] implementation, the Scottish market was highlighted as a viable opportunity for the extension of our services, so it’s very pleasing that this is now coming to fruition,” said Marshall.

“Certainly the feedback we have had from our business partners on the expansion is extremely positive and we are all very confident of its success.”

Equifinance will initially offer its product through selected broker partners in Scotland, before expanding to a wider market.

Last month, the company appointed ex-prestige director Simon Stern to a consultancy role to help develop its market.