Interbridge Mortgages has completed its first second charge mortgage after being added to the lender panel of brokerage Aro Money.
The lender launched last month and offers loans between £15,000 and £150,000 on terms that are 5-30 years. It offers fixed and variable rate options.
Interbridge Mortgages said it will leverage technology to offer a “paperless application journey” and, along with “specialist underwriting expertise”, would “drive its ambition to deliver best-in-class service”.
Aro Money said the partnership would provide second charge mortgage options to more clients and deliver better customer outcomes.
Interbridge Mortgages said the rise of entrants to the second charge lending sector would benefit borrowers by giving them more choice and competition.
Recent data from the Finance and Leasing Association (FLA), a trade association, showed the value of second charge mortgage business rose 23% in the three months to April to £405m.
Simon Martin, chief commercial officer at Interbridge Mortgages, said: “We are excited about the potential impact of Interbridge Mortgages on the second charge market. Our goal is to offer flexible lending solutions that meet the evolving needs of customers. By incorporating advanced technology and a customer-centric approach, we aim to simplify the borrowing process and make second charge loans more accessible.
“We believe our entry will encourage other lenders to innovate, ultimately benefitting the entire market, and we’re delighted to be working with Aro Money to provide more options for their borrowers.”
Richard Sharp, managing director at Aro Money, added: “As we look ahead, we are confident that our partnership with Interbridge Mortgages will continue to yield positive results. Our customers benefit immensely from the unique products and efficient processes that Interbridge Mortgages brings to the table.
“This partnership highlights our commitment to working closely with industry leaders to ensure that consumers have access to the best second charge mortgage solutions available in the market.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
