It is without a doubt that secured lending popularity is increasing on an annual basis. Second charge mortgage market has increased this year month on month and continue to do so.
Unsecured lending (payday lenders) is so expensive when you analyse the annual interest rates on offer. Homeowners are waking up to this fact and switching to the cheaper and safer secured lending option.
The largest growth area of loans is to the self-employed and the good news is there are plenty of different plans to suit each individual case. Loans can be fixed for various terms which can give peace of mind or you may wish to just take the standard discounted variable rate.
Second charge lending is so easy and quick to secure, lenders are increasing their portfolios at a rapid rate. An average case presented will complete in approximately 20 working days, as you can see this is so much quicker than the standard re-mortgage.
We are seeing different lending plans emerge daily and this can only be good news for the borrower. Interest rates and fees are reducing as lenders see this market as a growth area in the longer term.
Need some assistance?
If you think this type of loan could assist you in your future planning it is very important to ensure you get the correct deal to suit your needs. There are many different lenders offering numerous second charge loans so please do call our advisers who will be happy to help you achieve the correct loan for your needs.