Second charge lending continues to grow in stature month on month as homeowners look for loans at affordable rates. A recent survey of homeowners looking to borrow found in order of priority: Survey findings One of the big appeals of a second charge loan is it meets all the surveys key facts such as costs […]
Homeowners, do you turn to credit to help make ends meet? Could a second charge loan could help you? It is an increasingly popular solution as those credit agreements can quickly add up – and monthly repayments could start getting out of control as a result. With these extremely hard and strange times we are […]
It has always been more difficult for self-employed people to get a mortgage compared to salaried employees. For that matter second 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 […]
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% […]
The first reports on second charge financing of 2020 are suggesting that the rise in new business numbers recorded in 2020 will continue in 2021. However, it is felt that the increasing popularity of secured loans did not happen without a lot of effort from brokers and lenders alike. What the new figures don’t reveal […]
Almost 9 in 10 second charge loan applications through an intermediary (broker) have resulted in an offer this year, this is up on last year’s figure of 7.4 in 10. What is more four in five of those offers went to completion, up from seven in 10 the year before. In particular second charge borrowers […]
July 2020 saw the second charge mortgage market have its fourth consecutive month of growth, with new business up 19% by value and 14% by volume. Second charge mortgages can be particularly useful when a homeowner wants to raise additional funds but does not want to change their existing first mortgage – especially where this […]
The second charge loan market has recently been hitting the headlines revealing 3-year high lending figures breaking all recent records. In years gone by the processes for first and second charge mortgages had been very different, and this proved confusing to most people. Borrowers clearly did not fully understand how a second charge loan worked […]
More and more borrowers are turning to second charge loans as mortgage companies tighten controls on borrowing. Figures just released for the last quarter show “seconds” increasing to homeowners by 21% on the previous year, these increases are likely to be down to tighter controls from high street banks and other traditional lenders. Brokers up […]
For some homeowners including landlords a second charge mortgage will be a better option than a re-mortgage, so it’s surprising that so many consumers are unaware of what they are and how they work. There can be several reasons that a second charge might be the preferred option for a loan you may be considering. […]