Second charge specialist V Loans has seen broker registrations treble following its appointment as the only second charge master broker across all three mortgage club and network brands of LSL Financial Services.
The partnership with LSL Financial Services, including TMA Mortgage Club, The Pink Network and The First Complete network, marks a significant expansion of the firm’s distribution network and underlines the strong growth in the second charge market which is on course to become a £1bn market this year.
Marie Grundy, managing director of V Loans, said: “We are delighted to have been appointed as an official Second Charge Master Broker partner of LSL Financial Services. The appointment has enabled us to extend the reach of the second charge market to a wider network of brokers and consumers.
“We look forward to continuing working with and supporting the members of the LSL mortgage networks following the implementation of the Mortgage Credit Directive which will open up more opportunities for consumers who may benefit from a second charge loan.”
David Copland, director of mortgages services, LSL Financial Services, added: “We are very pleased to begin this relationship with V Loans. The alignment of the regulation of the first and second charge markets will serve to give greater credibility to second charge products and provide our member firms with the appropriate level of service through our trusted master broker panel including V Loans, meaning more advisers will proactively consider second charges products as a viable alternative to remortgaging. The members of our network are always demanding access to the best products and service, and this development will mean that we can continue to prove we provide that.”