The Intermediary – March 2025 - Flipbook - Page 63
S E C O N D C H A RG E
Opinion
knocks–twice
More borrowers are
either supplementing
their income with
additional employment
or seeking flexible
borrowing solutions”
provide solutions for a wide range of
financial needs.
Borrowers today have highly
varied requirements, and emerging
trends are covering entirely different
aspects of the market – from the
rise in multiple income streams to
the increasing demand for second
charge mortgages.
Not every lender is equipped to
fully appreciate additional sources of
income to boost affordability, and few
offer second charge mortgages as part
of their product range. That’s why it’s
crucial for brokers to collaborate with
a broad range of lenders, particularly
those that have the breadth of offering
to cater for these evolving needs.
According to Moneyfacts, we’re
approaching 10,000 mortgage products
available to brokers. It’s increasingly
important brokers utilise platforms,
such as OMS.
A specialist lender like Pepper
Money stands out by offering a
comprehensive approach, bringing
together solutions for these diverse
requirements under one roof.
By working with lenders that
understand the full financial picture
of a customers, brokers can help
customers secure the most suitable
mortgage products – providing a more
seamless and efficient borrowing
experience.
Those brokers who stay ahead by
aligning with adaptable, forwardthinking lenders will be best
positioned to support their customers
in achieving their homeownership
and financial goals. ●
View from the market
Dale Jannels, chief executive
officer at OMS:
As a technology company working
with both intermediaries and
lenders, we see first-hand how
borrower circumstances are
evolving in response to economic
pressures. The latest findings
from the Pepper Money ‘Specialist
Lending Study’, combined with
our own search and application
data, highlight two key trends
brokers must be aware of: the rise
in second jobs and the growing
demand for second charge
mortgages.
Affordability remains a major
challenge for borrowers. With
more than seven million people
now supplementing their income
with a second job, lenders must
recognise this additional income
when assessing mortgage
applications.
We are also seeing second
charge mortgages becoming a
crucial tool for borrowers looking
to manage their finances.
Are technology companies
doing enough to provide brokers
with the tools to source and offer
this as an option to customers
every time? Some are!
As brokers, our role goes beyond
securing mortgages – we have
a duty to support, educate, and
guide our clients through these
difficult times. This has always
been a broker’s priority, but
with Consumer Duty, it is more
important than ever.
People remember who helped
them when times were tough,
and by working with lenders that
truly understand affordability
and offer flexible solutions, we
can build trust, provide real
value, and strengthen long-term
client relationships.
