With the latest figures from the Finance & Leasing Association (FLA) showing that second charge business is up 11% annually in both numbers and volume over 2017, Fluent Money’s COO, Tim Wheeldon, believes that slowly but surely the second charge proposition is beginning to gain traction among advisers.

Wheeldon (pictured) said: “There is a body of thought that believes that if the second charge sector is not galloping ahead, it must be failing. However, we have always maintained that the take up of second charge business in the intermediary sector was never going to be a sprint, which is exactly how it is turning out.

“Those who thought that advisers were going to just roll over after MCD and endorse second charge borrowing as a remortgage alternative, were particularly naive.

“There were so many misconceptions, as well as outdated thinking and genuine disinterest about second charge lending, which needed, and still needs, to be dispelled.

“At Fluent, we are proceeding to build on the progress that Fluent for Advisers has made over the past two years, in building broker relationships and showing where a second charge option works for customers. This is a quiet revolution but recognition of the value of second charge lending is growing.”