There are several reasons why a second charge mortgage might be worth considering: If you’re struggling to get some form of unsecured borrowing, such as a personal loan, perhaps because you’re self-employed. If your credit rating has gone down since taking out your first mortgage, re-mortgaging could mean you end up paying more interest on […]
The value of new business for second charge mortgage lending was £242m in the three months leading up to November last year, 11% more than the year before. There were well over 5,000 new agreements in the three months to November, an increase of 7.2% on the previous year. The market saw £80m of second […]
Years gone by second charge mortgages may have been overlooked or consciously excluded from the options considered by mortgage intermediaries for clients looking to capital raise. The alignment of regulation has led an increasing number of mortgage advisers to explore more deeply the options available to their clients, and with good reason. In a sustained […]
Second charge loans can be a very useful facility for managing overspending and could help resolve debt problems that may have built up over the years. Christmas time always brings extra stress on the family budget, a second charge low cost loan could help elevate some of these problems. So, if you are thinking of […]
In these challenging times of financing, it has become more important to be able to complete a deal within a set timescale. Second charge finance has grown in status year on year and is going from strength to strength since regulation. A second charge delivers funding quickly and efficiently which is something high street and […]
Homeowners are increasingly turning to second charge mortgages to raise additional funds without having to change their existing mortgage deal. The second charge mortgage market saw 27.5% growth in lending and transactions in October compared to the same month last year. It follows a slowdown in September where figures were largely unchanged from 2016 and […]
The second charge loan industry has seen progressive growth over the past few years, given it used to be a much less visible sector of the lending market. The facts are the seconds market grew by 31% in 2016, with the total size of the sector reaching record levels. What is even more astonishing when […]
When borrowing money whatever the most suitable solution may be, the ability to source second charge products for comparison against first charges means you will get the best deal to suit your needs. The key being that all options have been explored, not ignored. It pays to get professional advice when seeking a loan that […]
Much has been said about the expanding trend of the second charge sector over the past year. Brokers and clients alike continue to be surprised at how competitive rates are and how, in certain circumstances, it can make much better financial sense to arrange a second charge mortgage than to re-mortgage a property. Since the […]
A new campaign is being launched very soon to tackle mortgage and second charge loan myths and highlight the importance of professional advice when it comes to taking out a secured loan. More stringent lending rules are making it tougher to get a mortgage, and yet new research shows that more than half – 58% […]