Freedom Finance has launched a refreshed proposition to support brokers through its Freedom 4 Intermediaries division.
Freedom 4 Intermediaries is a specialist second charge mortgage broker which helps intermediaries find the right borrowing solution for their clients.
Freedom Finance says it has launched the refreshed offering in response to increasing demand from intermediaries for these products. In 2023 alone, it has seen a three-fold increase in enquiries from intermediaries, mirroring the growth seen in the wider market – in 2022 the value of new business in the second charge mortgage sector increased 40% to surpass £1.5 billion and the number of new agreements also rose by 31% to exceed 33,000, according to the Finance & Leasing Association (FLA).
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 lead the strategic development and growth of Freedom 4 Intermediaries. He 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.”