Introduction
With the rise in recent years of Secured Loans or Second Charge mortgages the market has grown both in the volume of loans processed and the number of organisations involved. This article will attempt to break down the market into its individual components and explain, in general, the organisations that make up the Secured Loans Market.
The article is aimed at people involved in the finance sector but will probably prove interesting to those taking out a Secured Loans or to anyone with a general interest in how the wheels of the UK finance industry work.
Secured Loan Lenders
Despite there seeming to be masses of organisations in the media willing to lend money for a Secured Loan or Second charge mortgage there are very few players who actually lend the money. This is because a Secured Loan is considered middle to high risk so there are very few organisations actually willing to underwrite the risk. Although there are only a handful of banks actually putting up the money, you will find that they may also use further downstream organisations to underwrite their own risk. For example, The London Mortgage Company, which now...
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