The buy-to-let second charge market provides a range of solutions for borrowers who have perhaps been refused a mortgage by their current lender or high street bank. Popular second charge lenders are often more flexible in their application criteria and can step in where applicants do not meet the normal mainstream lenders criteria. Landlords can […]
There are a number of reasons to apply for a second charge mortgage and they include. Debt Consolidation Home improvements/extensions Helping with University fees Helping your family with a deposit for their first home Buy-to-let property purchase Children’s tuition fees Payment of a tax bill Who can apply for a second charge mortgage? A second […]
The second charge mortgage market continues to grow with the value of new business reaching £116 million in November 2019, figures from the Finance & Leasing Association (FLA) show. This is a rise of 17% from November 2018 with the number of new agreements rising by 14% to 2,594. In the 12 months to November […]
Second charge lending has increased in the last twelve months, plus the number of homeowners taking out these specialist mortgages increasing by nearly a quarter. The value of new business in this area of the mortgage market went up by 25.8% to £111 million in February 2020, according to new figures. Meanwhile, the number 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 […]
Second charge lending has always been a popular choice for people carrying out home improvements. In many instances, where the improvements are likely to result in a significant increase in the house price, it can be beneficial to take a second charge mortgage to pay for the work and then re-mortgage at the higher property […]
We are living in very strange times and many things are not clear, if you are looking to raise funds as and when this crisis is over it is strongly recommend getting the “ball rolling” sooner rather than later. All experts are predicting there will be a huge surge of lending applications later in the […]
We are living in very strange times and many things are not clear, if you are looking to raise funds as and when this crisis is over it is strongly recommend getting the “ball rolling” sooner rather than later. All experts are predicting there will be a huge surge of lending applications later in the […]
The number of second charge loans agreed in February was 13% higher than the same time last year at 2,435 figures from the Finance and Leasing Association reveal. However, the data pre-date the covid-19 pandemic hitting the UK and the ensuing lockdown, which put the brakes on the property market. The volume of loans agreed […]
They are widely available through specialist lenders, yet the latest research suggests it’s only the minority of people who explore them as an option when looking at ways to raise money. Of the minority who were aware what a second charge mortgage was, 28% didn’t understand what the difference between this and a re-mortgage was. […]