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New Opportunities to Make Money

My recent articles have been on future Secured Loan compliance and what businesses might need to do. Suffice to say, if you have your interim permissions and plan to document loan sales in a similar manner to mortgages, you should generally be in the right place.

Secured Loans – No longer a dirty word

Many intermediaries still have a negative view of secured, or second charge loans, probably based on how the market operated 5-to-10 years ago. However, major growth is projected for 2014 and many mortgage intermediaries are already seeing considerable income from secured loans and have learned to do so without any impact on their core business whatsoever.

Dangers of hands off approach to secured loans

With the secured loans sector set for a shift in regulation this spring one would hope those in the industry will be spending the next few months getting their houses in order. MMR has been an undoubted distraction and Networks in particular seem to have some way to go to be able to say they are fully switched on to secured loans. Worryingly, I do not believe they are all doing enough to change that.