0800 032 9595
Debt consolidation cuts monthly outgoings by £851
Our latest payout data for 2025 shows that clients using second charge mortgages solely for debt consolidation have reduced their monthly outgoings by an average of £851. This considerable decrease can meaningfully improve clients’ finances and provide much-needed relief.
Furthermore, recent improvements to lender criteria have made these loans more accessible and faster than ever before. In fact, 31% of our cases now complete in under two weeks, thanks to streamlined processes and greater flexibility. This means clients can get the funds they need sooner and start putting their financial plans into action.
Debt consolidation continues to lead the way
Debt consolidation remains the leading reason clients are using second charge mortgages. According to data from specialist lender Pepper Money, home improvements follow as the second most common loan purpose, accounting for 9.7% of all borrowing.
This highlights the versatility of this option, not only as a debt consolidation tool but also as a practical way for homeowners to fund renovations, upgrades, and repairs without disturbing their primary mortgage arrangements.
The importance of offering this solution
An increasing number of brokers are recognising the value of second charge mortgages for debt consolidation and actively incorporating them into their client support strategies. This option is particularly beneficial for those clients who are struggling to get a further advance or for whom remortgaging is not suitable.
As a broker, if you don’t yet have a referral partner to support your cases, now may be the right time to consider securing one. Doing so will help you provide clients with access to this solution. If you have a case that’s proving difficult to place, please get in touch on 0800 032 9595 to see how we can assist in supporting your client’s needs.
