The Intermediary – June 2025 - Flipbook - Page 57
S E C O N D C H A RG E
Opinion
borrowed on credit cards, according
to the Bank of England’s Money and
Credit report.
The financial pressure isn’t
anecdotal. It’s all happening in
plain sight.
Yet, even now, second charges
are rarely part of the mainstream
conversation. Brokers who raise
them oen have to explain the whole
concept from scratch, a strange
situation given how many clients they
could help.
At Norton, we work closely with
advisers to cut through that confusion.
We support everything from case
placement to packaging and lender
comms. We help get the paperwork
right, the first time. And we stay in
the loop, because what clients need
most, especially when they’re under
pressure, is clarity and speed.
What maers just as much as the
mechanics is the mindset shi. For
too long, financial support has been
framed around people who are doing
well, with a side note for those who
fall behind.
But that’s not how most lives work.
They change. They hit bumps. And
the idea that debt is always a sign
of failure, rather than a moment
that needs addressing, remains a
dangerous myth.
Second charges aren’t magic, and
they’re not right for everyone. But for
the right client, at the right moment,
they can stop the spiral. They can
give people back the ability to plan,
instead of panic.
As the broker, you need to carefully
consider the client’s financial
capabilities to ensure they are fully
informed of the risks, and able to
manage their monthly repayments.
You might be the only person
who asks a client how things are
really going, who doesn’t just talk
about rates, but about long-term
solutions that can help reduce overindebtedness. When you do, we’re
here to help you help them. ●
EDDIE LAU
is broker account manager
at Norton Broker Services
