In 2019 will have seen approximately £1.4bn lent, but second charge mortgages are still an underused solution.
It has been a relatively slow start to fully integrating second mortgages into the solutions being provided by mortgage advisers around the UK, but like all significant change it will take time. Collaboration between specialist packagers and mortgage advisers is a fundamental requirement to make this happen.
Analysis for the Social Mobility Commission out yesterday suggests that more than one in three of homebuyers in England depend on money from their family with this figure expected to jump to every two in five homebuyers by the early 2020s.
