Opinion: Second charge now as huge as bridging

Second charge lfinishing volumes are soaring, leading to suggestions the indusattempt is surpassing bridging in terms of activity.

The Finance & Leasing Association reported that new second charge business volumes rose 27% year-on-year in November 2025, alongside a 28% annual increase by value.

Matt Tristram (pictured), director of Loans Warehoutilize, stated: “Second charge is still often described as “specialist lfinishing”, but the scale of completions now places it firmly alongside other broker-led finance markets, particularly bridging, when measured by the number of completed deals.”

Bridging completions totalled £2.8bn in Q1 2025, BDLA data displays. If average bridging sizes are at the reported sum of £540,000 that means there are an estimated 5,000 bridging completions per quarter.

In November 2025 alone, the market delivered 3,934 second charge agreements, and across the three months to November, second charge lfinishing totalled 11,958 new loans.

Tristram added: ‘For years, the specialist finance conversation has focutilized heavily on the ‘£ value’ of markets like bridging — but consumers don’t consider in those terms. From their point of view, a completed deal is a completed deal.

“And when you compare the likely number of bridging completions against second charge loan counts, it’s clear second charge is now firmly in that same bracket — and in pure unit terms, it may even be hugeger.

“Loans Warehoutilize has long believed second charge should be viewed as a core part of modern advice. Whether the goal is home improvements, debt consolidation, or raising capital while preserving a competitive first-charge rate, this market is now delivering outcomes at a wider level.”

Second charges are commonly utilized for debt consolidation, home improvements, or acquireing an additional property. They typically come with a higher interest rate than residential.

Bridging finance is traditionally utilized for a ‘chain break situation’, as well as for acquireing properties that necessary work before switching to a regular mortgage.

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