More and more clients are dealing with rising household costs, debt pressure, or the urgent need to pay builders for home improvements and in all these instances, time is often of the essence.
That’s one of the biggest reasons second charge lending is having a moment and why it’s more than earned its place on a broker’s radar.
From application to completion in under 24 hours
At Norton, we’ve been completing second charges faster than at any time before. One recent case involved a client rejected for a remortgage due to unsecured debt, despite having a clean credit profile. The broker submitted the case at 3.45pm. By 2.43pm the next day, funds were in the client’s account.
That’s not a one-off. Another client, burdened with over £60,000 in unsecured debt and paying £2,136 per month, was able to reduce their monthly outgoings by over £1,500 with a second charge. The deal completed in just four working days, from the submission of the broker’s application to payout.
These types of timelines are possible because of how second charges are evolving. We’re seeing faster underwriting, slicker digital journeys using e-signatures and AVMs, and increasingly flexible lender criteria. All of this makes it easier for brokers to help clients act fast and do so without disturbing their first charge mortgage.
Competition is raising standards
There’s a growing number of lenders improving the speed and appeal of their second charge products. Selina Finance, for example, has revamped its home equity line of credit (HELOC) offering, giving borrowers flexible access to funds when they need them, rather than in a lump sum. Meanwhile, new entrants like Interbridge are shaking things up with fresh thinking and faster processes.
More lenders mean more competition. And more competition means better outcomes on rate, criteria, and service levels.
The market is growing for a reason
This isn’t just anecdotal. Second charge business volumes are growing month-on-month, with July 2025 data from the Finance & Leasing Association showing a 15% rise in new business compared to the same month last year.
That follows a sustained period of growth over the past 12 to 18 months, where affordability concerns and remortgaging challenges led brokers to consider second charges more regularly. But even as inflation eases and swap rates settle, demand hasn’t gone away.
Why? Because second charges don’t just offer a plan B, they’re often the best-fit solution for borrowers looking to raise capital quickly while keeping their main mortgage intact.
If you’ve never recommended a second charge, now’s the time
Second charges aren’t a niche solution anymore. The days of them being seen as a last resort are long gone. Whether it’s for debt consolidation, home improvements, school fees, or development funding, second charges are delivering speed, flexibility, and value to a wider range of clients than ever before.
If you’ve never recommended a second charge before, now is the time to look again. With the right partner and the right process, you could be opening the door to solutions that serve your clients better than ever before.
Eddie Lau is broker account manager at Norton Broker Services
