Monthly lending figures of £64,375,673 represent the second highest single months' lending since October 2008, despite being one of the shortest working months of the year, and marked a 35.8% monthly annual increase.
In the first two months of 2015, Loans Warehouse surpassed the total amount lent in the first quarter of 2013. Gross lending figures for January and February 2015 were 18% higher than Q1 of 2013.
Matt Tristram, Co-Founder & Director of Loans Warehouse, comments:
"It’s all about the fixed rates. Whilst a fixed rate period of lending has been common place in the mortgage market for many years, it’s been surprisingly rare over the years in the second charge industry.
"However, in the last 12 months many lenders have made steps to change that. Last month Prestige Personal Finance, Optimum Credit and Nemo Personal Finance announced fixed rate options were being added to their secured lending ranges, joining Paragon Personal Finance, Shawbrook Bank, Precise Mortgages Secured Loans, Central Trust, Blemain Finance & Clearly Loans who all have offered fixed rate options for some time.
"With the Financial Conduct Authority taking over regulation of the second charge industry, it is noticeable that the changes lenders are making are drawing us more in line with first charge products.
"It’s not all about that though. Lenders making changes to their product offerings, such as the introduction of new fixed rates and Buy-to-Let options, is a demonstration that they are listening to what consumers want and where they see future areas of growth."
