Specialist finance brokerage FinSpace has announced its expansion into second charge mortgages, in what it says represents a ‘significant milestone’ for the business.

The fintech company wants to grow its client base in the current market to offer people ‘a suitable product for their circumstances’.

FinSpace managing director Graham Beresford comments: “The expansion into second-charge mortgages is a significant milestone. As the cost of living and house prices continue to rise, we anticipate that many borrowers will be looking to their homes to help them meet and pay off costly debts.”

The company’s commercial director Dave Fathers adds: “Customers will undoubtedly rely on expert advice more than ever. Furthermore, lenders are offering a wide range of bespoke financial solutions, which will ensure that as an industry we can all strive to deliver the best possible results for customers with additional borrowing needs.”

Figures out this week from Loans Warehouse found second charge lending increased 21% to £135m in March, compared to February, in what it described as a ‘clear sign that second charge lenders are feeling confident for the first time since the September 2022 mini-Budget’.

The total for March was down 6.5% year on year.