Equifinance is a privately-owned UK company. We are passionate about the second charge market and disrupting it as best we can.

Having joined the market just 7 years ago we built our business off the back of cases other lenders wouldn’t do, taking the time to understand a client’s circumstances and asking for explanations. The increase in our lending from tens of thousands to tens of millions year on year over the last 7 years is success story that we are proud to share.

Unlike many other lenders we only offer the one product, we live and breathe second charges and strive to be one of the best lenders in this marketplace. Our objective is simple; offer clients solutions which are competitively priced, fair, in their best interests and inclusive of their circumstances.

We understand that client’s circumstances are ever changing, that the position they were in 12 months ago may be far removed from the position they are in now. Call us old fashioned, but we pride ourselves on our manual underwriting of cases and that we have a reputation for being a lender that takes the time to understand a client’s situation making common sense lending decisions based on their ability to repay rather than based on their history.

Our ability to innovate with our product offering is one of the fundamentals to our success. We actively source and take feedback and suggestions from brokers, applying their ideas to the criteria is what we think makes our plans the winning formula. Our products have not been created by risk analysis teams or in Board meetings they have been compiled by the marketplace, by brokers, by customers, by our staff, our underwriters and administrators.

In the last year Equifinance has invested over £1.5m in user facing and operational technology, a substantial investment to ensure the journey of an application is simple, efficient and enhances the experience for our customers. In addition to the system driven process improvements; Equifinance focussed on the product offering.

The primary objective being to develop criteria and products that suit a multitude of borrower types, that are innovative in the market, that understand customers changing circumstances but also to lend safely and responsibly whilst achieving our profit targets. We did this in several ways; improving our rates dropping our opening rates to 8%, the first time we offered a single digit rate in the company’s history! We widened our stance on self-employed contractors and anyone whose employment situation is unusual such as the self-employed or those on zero-hour contracts. We moved to a unit based underwriting model to make the underwriting of a case much simpler and more transparent. We also enhanced our ‘non-standard’ plans offering solutions to customers with certain ‘niches’ such as 1st charge declined consent, third charges.

These product innovations twinned with our exceptional service levels has led us to a monumental volume increase of 185% year on year.

We are one of the fastest growing second charge lenders in the market.