The secured loans packager said that secured loans for those unable to remortgage could be one of the few options available for brokers to offer clients who lack the equity to remortgage.
Dave Pinnington, business development director at V Loans, said: “We have been surprised by the number of calls we are already getting from brokers who have never done a secured loan before because of the restrictions that are already beginning to bite in the mortgage market.
“There is a high percentage of borrowers requiring access to capital, who traditionally relied on remortgaging or further advances, for whom secured loans could be their only route to accessing capital.”
