Personal household debt grew by 10.8% in the year to 30 November 2016 to £192.2bn – the highest level since the aftermath of the 2008 financial crash.
Master broker Clever Lending has received more second charge enquiries from those with debt problems at the start of 2017.
Personal household debt grew by 10.8% in the year to 30 November 2016 to £192.2bn – the highest level since the aftermath of the 2008 financial crash.
Sam Kirtikar, managing director at Clever Lending, said: “There are more low rate second charge products on the market than ever before, many at highly attractive rates, so there are real opportunities now for brokers to help their clients.
“Although we can quickly source lenders who can individually underwrite cases where the customer has debt worries, getting a client’s credit profile in order can help their longer term financial situation. So it’s not just about the here and now.
“Secured loans should be considered as a viable debt solution offering products that are affordable and sustainable.”
