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Do you expect to see less or more second charge mortgage lenders in 2018?

Optimum Credit securitisation ‘significant moment’ for seconds market


Optimum Credit’s recent successful securitisation demonstrates the growing importance and status of the second charge market, according to an industry expert.

Last week, the second charge lender raised £256m through a securitisation transaction as it looked to increase its market share within the second charge mortgage industry.

“It is now nearly 10 years since the credit crisis that froze the securitisation market,” said Tim Wheeldon, COO at Fluent Money.

“Securitisation activity among first charge lenders has been increasing for the past few years, but this is the first one from a second charge lender.

“For all of us – whether fully engaged in the sector as we are at Fluent or in the wider lending market – this is a significant moment.”

This announcement followed Fluent Money Group’s purchase of Manchester-based broker and packager Brytannic Extra Finance last month.

“A successful securitisation sends a signal that the capital markets are now open for business to the second charge sector,” added Tim.

“Access to funding will become easier and other players will be encouraged to follow where Optimum has led.

“For the wider market, it demonstrates that the investment market has an appetite for good-quality loans.

“It only adds to the good news that continues to support the wider acceptance of secured loans as a viable alternative to remortgaging.”

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