Second charge loans to boom after regulation

The mortgage market could see a proliferation of second charge loans arranged by brokers come regulation, warns BM Solutions.

Speaking at the Mortgage Expo seminar on non-conforming loans, Michael Bolton, director of mortgages at BM Solutions, highlighted that this increase could occur as brokers will not have to disclose procuration fees on these deals when regulation comes into effect. Bolton says this upsurge could replace the boom in remortgages.