Freedom Finance, one of the UK’s largest second charge distributors, is delighted to launch a  refreshed proposition to support brokers through its Freedom 4 Intermediaries division. 

Freedom 4 Intermediaries is a specialist second-charge mortgage broker which helps intermediaries find the right borrowing solution for their clients whilst delivering market-leading customer service. 

As well as providing intermediaries the opportunity to grow their current business offering, with no additional compliance or regulatory risk, intermediaries using the service will benefit from the team’s decades of experience and technology-led approach that helps deliver outstanding client outcomes,  including a pay-out time from initial contact that is half the industry average. 

Freedom Finance has launched the refreshed offering in response to increasing demand from intermediaries for these products. In 2023 alone, it has seen a three-fold increase in enquiries from intermediaries, mirroring the growth seen in the wider market – in 2022 the value of new business in the second charge mortgage sector increased 40% to surpass £1.5 billion and the number of new agreements also rose by nearly a third (31%) to exceed 33,000, according to the FLA1. 

The incoming Consumer Duty also places greater emphasis on intermediaries to find personalised solutions for their customers to drive good outcomes. This may increase the number of people who could benefit from exploring the second charge mortgage option following rapid Bank of England rate rises which for millions of customers2 may make remortgaging less attractive and the cost of living crisis which is driving greater interest in debt consolidation. 

Richard Sharp, Managing Director of Freedom Finance Mortgages commented: “The refresh is a  key initiative for Freedom Finance and brings a focused and market-leading proposition to the intermediary market, which becomes ever more important when considering the macroeconomic impacts we are currently experiencing within the UK. I look forward to Freedom Finance partnering  with the intermediary market and delivering fantastic financial solutions to all of our customers.” 

Nick Jones – who joined the business earlier this year – will lead the strategic development and growth of Freedom 4 Intermediaries. 

Nick Jones, Director at Freedom 4 Intermediaries, commented: “The update to our proposition for intermediaries comes at a hugely exciting time for the second charge mortgage sector. 

“Tailwinds ranging from rate rises and tightened affordability in the first charge mortgage market to a  growing demand for debt consolidation mean that an increasing number of intermediaries should be  considering second charge mortgages for their clients. 

“Our service delivers excellent results for intermediaries, helping them to grow their business and  aiding them to support the regulatory demands of the upcoming Consumer Duty by embracing the  spirit of variety and personalisation.” 

Freedom 4 Intermediaries is part of Freedom Finance, one of the UK’s leading digital lending  marketplaces providing second-charge mortgages, unsecured personal loans, credit cards,  mortgages and other financial products