There were 1,945 new second charge agreements in January this year, up 18% year-on-year, the Finance and Leasing Association (FLA) has found. In the three months to January there were 6,015 new second charge agreements, up 18% from the previous year. In the 12 months to January there was 23,829 new agreements, up 8% year-on-year. […]
There Is little doubt that second charge lending popularity is increasing on a daily basis. Second charge mortgages have increased this year month on month and continue to do so as more people become aware of just how advantageous they can be. This type of lending is so easy and quick to secure lenders are […]
Increases in the second charge loan market suggests economic uncertainty is causing more people to improve their current property rather than move. Data shows there has been an 8.9% increase in people applying for second charge finance in the second half of 2018, when compared to the same time in 2017. Figures also show that […]
According to figures from the Finance and Leasing Association (FLA), the average second charge loan size has increased from around £25k ten years ago to around £45k now. The loan-to-value of around 60-65% on a second charge loan hasn’t changed much over the last ten years though, so it is higher property values which have […]
The number of loan applications increased by nearly 23% in the quarter ending December 2018 compared to the Q3 ending September 2018. This year has continued on the upward trend as consumers become more aware of how a second charge loan could benefit them. It would seem the UK homeowners are very keen to reduce […]
The finance and leasing association has released data that shows the second charge market expanding on a yearly basis for the sixth month in a row. In December 2018, there were 1,702 new agreements valued at a total of £80m, growth of 13% and 6% against December 2017, respectively. This is some way off November’s […]
Home improvements were the most popular reason to take out a second charge loan in 2018 research has found. Almost half (48%) of customers used some of the funds unlocked from their property towards enhancing homes and gardens. These figures demonstrate the flexibility of a second charge as a tool for financial planning in retirement, […]
For the time being second charge interest rates are likely to remain at their all-time lows. If you are considering a new loan now could be the time to make your move as things could be changing soon. Second charge loan interest rates have been tumbling for months now. This type of loan could be […]
The latest numbers from the finance and leasing association reveal that second charge mortgage business volumes grew in November and December 2018 when measured on an annual basis. There were 3,782 new agreements in the month, up by 21% compared to the same months last year. This brought the total number of agreements in the […]
It has always been more difficult for self-employed people to get a mortgage compared to salaried employees. For that matter, 2nd charge loans have historically been somewhat harder to obtain for the self-employed as well. At the heart of the issue is a tendency among self-employed individuals to not be able to satisfy loan companies […]