Coronavirus – If you are looking to raise funds it is still a good time to start the process and keep “ahead of the game”. We are expecting a very busy period once the restrictions are lifted, therefore making provisions now will speed up the release of funding. The second-charge lending market used to be […]
Almost nine in 10 second charge loan applications through an intermediary (broker) resulted in an offer in 2018/19 – up from seven in 10 in 2017. 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 have benefited from widely […]
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. Second charge loan interest rates have been tumbling for months now. This type of loan could be used as an alternative to a […]
A second charge mortgage provides an extremely useful alternative where consumers want to raise additional funds but do not want to change their existing first charge mortgage – especially if there would be additional costs in doing so. Second charge lending has many uses and one of the advantages of this type of loan lies […]
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 […]
More people than ever before are turning to a second charge mortgage to raise funds rather than taking out a personal loan or re-mortgaging. A second charge mortgage explained Second charge mortgages are becoming increasingly popular and are at their highest level since 2008. A second charge will allow you to borrow a lump sum […]
It is, without doubt, secured lending popularity is increasing daily. Second charge mortgage completions have increased at a rapid rate over the last 2 years since regulation. This form of loan is quick and easy if you own a property, lenders are increasing their product portfolios at a rapid rate. Simply the amount borrowed is […]
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 officers […]
The early part of 2019 saw a sharp rise in the number of mortgage advisers utilising second charge loans for clients concerned about their expensive long-term debt. According to figures from the Bank of England, personal debt in the UK grew 12.4% in the year to 30 November 2018 the highest level since December 2008. […]
Lenders have seen the potential growth in the second charge lending market and have responded well by offering very competitive short and long-term packages to suit the majority of needs. Over the last 12 months second charge interest rates have tumbled and are now very much in-line with a standard mortgage. With the Bank of […]