The fourth episode of

Shawbrook Bank has made available the fourth episode of its ‘A Conversation with Shawbrook’ podcast.

Hosted by Gavin Seaholme (pictured), head of sales for Shawbrook’s property finance division, the podcast includes Barney Drake, CEO of Specialist Mortgage Group (SMG), with the pair discussing what this year has in store for the second charge mortgage market.

The duo look at the impact of the pandemic on the second charge market, and the key drivers of growth. They discuss the uptick in customers looking to use second charge lending for debt consolidation, the upcoming FCA deadline for credit card companies to assist customers who are in persistent debt, and how more education across the property sector on persistent debt is needed.

Seaholme said: “The second charge mortgage market saw real momentum at the beginning of last year, and despite challenges throughout the rest of the year saw a resurgence towards the end of 2020.

“Momentum looks to be continuing into 2021 with customers looking to use second charge lending for consolidating debt, financing home improvement projects after spending more time at home and for specialist lending solutions they may not be able to access through traditional lenders.”