Several lenders have claimed an increase 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 8.4% increase in people applying for second charge finance in the second half of 2018, when compared to the same time in […]
Second charge loans can be used for many reasons, such as a deposit for a new property investment, buy-to-let and re-development of an existing property to name but a few. Many borrowers now are also viewing second charge loans as a simple and a cost-effective alternative to mainstream lending. Second charges are fast and can […]
The number of loan applications increased by 28% in the quarter ending September 2018. October November and December continued on the upward trend as consumers become more aware of how a second charge loan could benefit them. Is it time to reduce expensive debt? It would seem the UK public are keen to reduce expensive […]
The biggest growth area of loans is to the self-employed and buy-to-let landlords, the good news is there are many different plans to suit each individual case. Loans can be fixed for various terms which can give peace of mind or you may wish to just take the standard variable rate. This is a rapidly […]
The biggest growth area of secured loans is to the self-employed and individual Landlords and the good news is there are many different plans to suit each individual case. Loans can be fixed for various terms which can give peace of mind or you may wish to just take the standard variable rate. Different lending […]
Basically there are two types of loan, unsecured and secured. Unsecured lending is from a bank or high street lender and no security is required. Secured lending involves borrowing a sum of money and securing the amount against a residential property. Normally secured lending will have much reduced interest rates over unsecured and the loan […]
To apply for a second charge mortgage you do not necessarily need a very good credit score. In fact, in some cases, you may still be able to get a second mortgage with a bad credit score. In order to be considered for a second charge mortgage you will need be a homeowner. However, you […]
This year has seen a significant decrease in completion time for second charge loans which is great news for the borrower. Lenders have seen their market share grow at a rapid rate as more clients need to complete their financing quicker than the traditional methods on offer. A straight forward case is now completing in […]
Confused about your next loan? An unsecured loan is a loan made to a party without any particular asset offered as collateral/security. A secured loan on the other hand is secured on your property, which has very different implications. Unsecured loans are usually for small amounts but can be up to £25,000. The loans are generally repayable […]
Second charge lending has many uses and one of the advantages of this type of loan lies in its flexibility. It may be the case that those who need to raise funds are not aware they can do so through a second charge which is, of course, where advisers and brokers come in. This type […]