The latest figures for the second-charge market, from the Finance & Leasing Association (FLA), make for positive reading. It found that the value of new business for April came to £88m, the most positive month for new lending in a year, while the number of new loan agreements is now unchanged from last March. It […]
It is undoubtedly the case that the core uses for second-charge loans, such as for home renovations or consolidating debt, have not disappeared with the pandemic. If anything, they have become even bigger drivers for borrowers. One additional area where second-charge loans could prove particularly useful, but which may not be on the radar for […]
Second charge mortgage business volumes grew in the first two months of the year, according to figures published by the Finance & Leasing Association. It said that £143m was lent in second charge mortgages in the first two months of this year, which was10% more than the same period last year. In terms of sales […]
A survey recently conducted has reported the fallout from Brexit and now Covid-19 has had little effect on the second charge lending market as 68% of loan applications resulted in an offer this financial year. This figure is 24% higher than the same period last year. The proportion of offers that subsequently resulted in a […]
Paying off bills has become a major issue in the second charge market with three out of the top five broker-related searches cover debt enquiries or people with county court judgements, according to mortgage database Knowledge Bank. This demonstrates that a number of people are struggling financially and are using their homes to secure debt […]
The news just broke that this spring many families’ household energy bills are set to rise by £96 per year. So we thought we would take a quick look at easy ways to make sure you’re getting a good energy deal… Energy regulator Ofgem announced a sharp increase in bills for up to 15 million […]
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, there is a feeling amongst the experts this trend could soon be reversed. Second charge loan interest rates have been tumbling for months […]
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 lenders in the UK are positive about the future, the majority are expecting this sector of the mortgage industry to grow rapidly according to a new lending survey. Borrowers also expressed a very positive view. The upbeat outlook from the lenders suggests that the use of second charge loans as a financial tool […]
Almost half of the UK’s homeowners are planning a home improvement project in the spring/summer, according to recent research. Each homeowner on average will spend £5000 from their savings pot to pay for it. Almost a quarter of people making home improvements are planning to draw on their savings (22%) with the remainder borrowing to fund […]