Mortgage Solutions, 19th July 2013 | Freedom Finance achieve record month

Mortgage advice and industry news website Mortgage Solutions reported on 19th July that Freedom Finance achieved their record month in June 2013, brokering £10.7m worth of loans through their search tool.

Freedom Finance explains that a ‘rising consumer appetite’ for unsecured loans and secured loans loans has fuelled the 40% increase in their year-end profits.

The MD of Freedom, Nicola Georgiou believes that the economy is ‘starting to show signs of recovery’ and that this could be due to the improved options that the lenders are now offering which in turn is generating interest from potential consumers.

Mortgage solutions conclude that the majority of consumers are taking out credit in order to consolidate existing loans, using low lifetime tracker and interest-only loans if spending capital is needed.

This increased consumer confidence claim is further supported by the rise in second-charge mortgage lending in May. The Finance and Leasing Association claims that this is as a result of re-mortgaging due to growing consumer confidence.

Freedom Finance provides online, easy to follow financial guides to discover the best type of credit available for a range of individual circumstances.

To read the full article from Mortgage Solutions, click here.