2ND CHARGE MORTGAGES

It is a fast and flexible alternative to a remortgage. Using a property asset as equity your clients can borrow up to 100% of the value of their property

Advantages of 2nd charge loans

• It can provide extra money for doing property improvements or for refurbishment of other properties or for other business purposes 


• It can be used to consolidate short term debt which can increase disposable income 


• Avoids ERC’s on current mortgage


• Access to specialist lenders not readily available.


• Poor credit considered


• Flexible income multiples


• Fast completion timescales 



ON TARGET 

 By using a 2nd charge loan, your clients will be able to release funds from their property without changing their main mortgage.

As well as a investment property we have a wide range of products available for 2nd charge mortgages on BTL properties. This will ensure your landlords keep their low mortgage rates and a 2nd charge might be the answer. 

Why use a 2nd charge?

our clients will be able to release funds from your property without changing your main mortgage.


Interest rates rising give homeowners and buy to let landlords a challenge where they have a competitive rate first charge loan.


To secure a new loan that sits behind the current lender makes sense given the risk of losing a fixed interest rate.


Second charge lenders will allow the customer to use funds for any legal purpose and offer fixed and variable rates with lower income multiples than traditional mortgage lenders.

What can I use it for?

There are many uses for 2nd charge mortgages when the traditional banks are unable to help and your clients require more borrowings.

Some of the scenarios we’ve been able to help with are listed below.


Sit tight save money
 

Interest rates rising give homeowners and buy to let landlords a challenge where they have a competitive rate first charge loan.


To secure a new loan for business purposes that sits behind the current lender makes sense given the risk of losing a fixed interest rate.

Examples of what your clients can use funds for

Debt Consolidation

Debt consolidation is a financial strategy that involves combining multiple debts into a single loan with a lower interest rate and/or lower monthly payment.

Tax Bills

Have a large IHT or Schedule D tax bill and cannot get time to pay use your assets to solve the issue

Home Improvements

Do you want make changes to enhance the value of your home, kitchen, bathroom ,flooring or outside space use a second charge loan

BTL Deposit or Renovation

BTL purchase and renovation increases the value of the property and make it more attractive to potential tenants, which can lead to higher rental income and long-term profitability.

Holiday Home UK or Overseas

Want to buy a holiday home use your current equity to purchase or draw funds as a deposit

Equity Transfer

When equity is transferred there can be stamp duty or costs involved. a second charge loan can assist in these situations

Business Investment

Do you have a shortfall on an acquisition or just want to invest in a new business. Use your equity

Wedding/Family Gift

Planned the wedding but need to pay for it. Use a second charge loan to give you loved ones that big send off

Luxury Purchase

Large assets purchases such as a new car, a watch or maybe even jewellery are all reasons to use a second charge loan