Having endured a poor performance in the opening match of the series at Trent Bridge, Finn's spot in the side remains in jeopardy despite the second Test taking place at his home ground of Lord's.
However, with a record of 29 wickets at 20.65 in five Tests at Lord's, Fraser feels that Finn should be given a second chance.
"He didn't have the best of games at Trent Bridge," Fraser told Sky Sports News. "And it was a bit disconcerting the way he was handled on the last day by Alastair Cook, although it was understandable given the situation.
"He has something different, he's quicker and bouncier than the other England bowlers. He has the potential to produce something that the others can't and he does have a pretty good record at Lord's. He's bowled better there than Bresnan and Onions.
"I'd like to think he'll be given another chance but that's a decision for the selectors."
The second Test starts at 11am on Thursday.