First 4 Bridging (F4B) has set up a dedicated second charge division.
The new division, called First 4 Seconds, provides access to a number of second charge providers.
F4B was previously authorised for certain non-mainstream regulated activities, such as bridging loans, development loans and commercial term mortgages. These will remain prominent focal points within the F4B offering but its new regulatory status will allow the specialist distributor to move into the second charge marketplace and other regulated activities.
Steve Swyny (pictured), head of sales at F4B, said: “Ever since we began the rigorous authorisation process, we had an eye on the second charge market and have been working hard behind the scenes to ensure we have the right level of knowledge, lender relations and experience within the team to ensure that we can hit the ground running.
“This arm of the business will open the door to an even wider range of alternative lending options to better support the needs of our new and existing intermediary partners. Demand for second charge business is growing and this move represents an important step in our expansion plans.”