Rising Second Charge Loans

Second charge on the up and rising: 

Second charge lending activity has seen a definite surge in recent months, driven by record low rates and rising house prices, which have encouraged homeowners to reconsider their finances. So much so, that the number of second charge loan transactions has risen to the highest level seen in over five years.

This highlights the level of motivation to raise capital at the moment, and our own figures back this up. Second charge lending is now a big part of the lending markets with more borrowers considering this type of loan as an alternative to a re-mortgage.  Indeed, additional figures from a survey revealed that 7.8% of homeowners in August and September this year applied for a secured loan against their property.

Since the Brexit result a pattern has emerged with homeowners looking to reduce expensive long term debt such as credit cards and unsecured lending. Homeowners are without doubt being more cautious as the immediate future is somewhat uncertain and they see reduced expenses as a major priority.

Second charge loans now have a vast array of choices so if you are considering a loan please ensure you get the right one to meet your needs both in the short and long term.

Can we help?

We have a large number of fully qualified advisers so please do make contact and we will endeavour to find the perfect solution for your needs. http://www.second-charge-loans.co.uk/contact/


Popular Second Charge Loans

Second charge lending ever more popular:

A recent survey has found nearly one in six self-employed workers has had a re-mortgage application rejected. The findings highlight the problems of proving income and affordability for customers who are not full-time employees, according to the survey.

Despite their self-employed status, nearly half (48%) of respondents said they earned about the same or more than in their previous job, 26% said they were earning more.

Self-employment is growing rapidly and being your own boss should not mean you cannot successfully apply for a re-mortgage. Many self-employed need to raise cash for business expansion as well as the normal home improvements.

One solution to the self-employed plight is a second charge loan which is growing in status month on month. This type of loan has several advantages over a re-mortgage and its little wonder they are growing in popularity.

The key to ensuring that you do not struggle in vein searching for the right loan to meet your needs is to get expert independent help. The range of loans open to the self-employed are vast and an expert will help guide you to the correct solution.

Can we help you?

If you are looking to secure a loan on your property please do contact one of our advisers and they will be happy to assist. http://www.second-charge-loans.co.uk/contact/



Help for the Self-employed

Help for the self-employed
Currently, the second charge lending market offers a good alternative to self-employed borrowers, in particular for those with little track record or complex income structures. Products are out there whether the client has just one year of trading or is well established in their business.
Lenders are softening in their approach to the self-employed and Its believed the market will continue to grow in supplying products for this often underserved sector of the market.
The self-employed and, in particular, contract-type work does from time to time mean that the applicant will be between projects and, as such, income volatility becomes a factor.

There is a real case for products that allow for payment breaks to accommodate this along with perhaps the ability to overpay throughout the term without penalty. Lenders have seen the need for such plans and have incorporated deals in their portfolios which is good news for the self-employed.
There is likely to be more self-employed, freelance and limited company owners in the years to come. It is very encouraging to see the lenders taking on board this situation and acting in a positive manner. Small and medium businesses are making up an ever-increasing part of the British economy and, as such, it is imperative that this sector is supported appropriately.
Need some help?
If you would like to know more please do contact one of our qualified advisers and they will be pleased to assist. http://www.second-charge-loans.co.uk/latest-loan-info/



The Best Secured Loan For You!

Which loan is the best?

Most importantly the interest rates on a secured loan are normally a great deal lower than the rates on unsecured borrowing, but they do vary from lender to lender.

There are several advantages to secured loans. First, you can borrow a larger amount with a secured loan than with a personal loan that is unsecured. For example, many banks and building societies will lend up to £150,000 on a secured loan. With a personal unsecured loan, the maximum advance you are likely to get is £20,000 but this could be far less.

Lenders will more than likely take into account your credit score when they set the interest rate for a secured loan. However, they tend to be more sympathetic to borrowers with poor credit scores because the loan is secured against your property which will help keep the rate acceptable.

You can also take longer to pay back the debt – a term of 10 or 25 years is not unusual with a secured loan, as opposed to 5 or perhaps 10 with the unsecured option.  A longer term usually means lower monthly repayments, but it’s important to remember that you will pay more in total interest if it takes a long time to clear the debt.

Secured loans are often used to finance home improvements or to consolidate other debts and can be a credit lifeline. This form of lending is becoming more popular by the day and lenders have adjusted to match the increasing demand. Usually the borrower requires the funds to be released quickly and secured lending meets that demand well.

Need some advice?

If you are looking to raise capital from the equity within your property please make contact and one of our fully qualified advisors will be happy to assist.


secured loans

Second Charge For Home improvements

Second charge mortgages are being used for home improvements more and more as well as debt consolidation in 2016 the latest research has revealed.

Between January and August this year one in three (33%) second charges were used for home improvements, twice as many as a year ago, while 75% of customers used second charge for debt consolidation in 2014 compared to 36% in 2016.

Since the Brexit vote second charge loan enquiries have been increasing at a rapid rate. Reports suggest homeowners are looking to improve their current properties rather than move. Debt consolidation is high on the agenda of the majority of homeowners as unsecured debt is very expensive when compared to secured lending.

Second charge lending is growing very quickly in stature and one of its big appeals is the speed of advancement. On average a second charge loan is completed within 21 working days, this of course depends on the complexity. This financial year has seen interest rates drop to the lowest ever recorded in this field of lending.

If you are looking to raise money from the equity within your property this type of loan should be given serious consideration. There are many options open to a homeowner to raise cash including a re-mortgage and you should seek professional advice as to the best loan to suit your needs.

Need some help?

There are many different lenders offering numerous second charge loans. If you think this could assist you with your future plans please make contact with one of our qualified advisers.

Home improvements






Boom On 2nd Charge Lending

2nd Charge lending boom

There is little doubt secured lending popularity is increasing daily. Second charge mortgages have increased this year month on month and continue to do so.

Since the Brexit vote enquiries have increased substantially as homeowners look to reduce other expensive unsecured debt. Unsecured debt can be very expensive, second charge lending can offer large savings to the monthly budget.

This type of 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 28 days, this is far quicker than the standard re-mortgage.

Interest rates and fees are reducing as well as lenders see this market as a growth area in the longer term.

One of the biggest growth areas 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 a fixed rate or standard variable which ever suits the household budget.

This is a rapidly expanding area of lending and products are increasing to match the demand.

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 you.

Flexibility Of Second Charge Loans

 Second charge offers flexibility:

Second charge mortgages or loans have always offered have much more flexibility on the approach to lending, largely because lenders tend to make more bespoke decisions. And that is only getting better particularly for those master brokers and packagers who can offer a range of solutions.

Second charge lending is becoming more popular every day due to the flexibility and now the reduced interest rates on offer. Five years ago second charge lending was the “poor relation” to a re-mortgage but this is no longer the case. Lenders have seen the growth potential in this area of lending and have responded with really competitive products to meet the majority of needs.

First charge mortgages are pretty vanilla in what they offer. Basically if you don’t have the deposit for example, you can’t get a loan. It really is that straight forward. Brokers have always aired their gripes about how these products are just not responding to the ever changing market place – older borrowers, self-employed, and those who may have on going debt problems.

If you are looking to raise capital on the equity within your property a second charge loan may well suit your needs. This is not always the case and you should seek professional advice to ensure this is the correct route for you to follow. Please do make contact with one of our fully qualified advisers who will be happy to assist.





Second Charge Lending

Competitive Rates on Second Charge Lending

Second charge lending rates reduce:

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 England recently reducing interest rates again it is expected the already low rates for second charge lending will fall again.

Second charge lending is growing in stature all the time and is now a very serious alterative to the once traditional re-mortgage. In the past a second charge loan was seen as a very expensive alternative to more traditional methods of raising capital.

Another major advantage of second charge lending is the speed of completion. A standard re-mortgage can take months to complete were as a second charge loan can be completed in a matter of days.

This form of loan will not suit everybody but it is without doubt worth exploring with the help of a qualified adviser. These days the choices of loans open to the majority of homeowners is vast and it is vital to get the correct one to suit your needs. Making the wrong choice could prove to be very expensive over the longer term so do seek the appropriate professional advice.

Need some assistance?

If you think this form of loan could assist you in your future planning it is very important to ensure you get the correct advice. There are many lenders offering numerous second charge loans, please call one of our advisers who will be able to guide you in the correct direction.


Second Charge Loans increased approval rate

Secured lending approvals see increase in Second Charge Loans

2016 has seen the Second Charge Loans market reach new heights as homeowners look to reduce the high cost of unsecured lending. Applications in the first half of the year are over 70% higher than the same period last year. The Bank of England has reduced rates to an all time low and new legislation and regulation within the 2nd Charge market place has generated a surge in interest from borrowers across the UK.

With so many different loan types on offer the market has become very confusing for the borrower. Second charge lending has made huge strides forward and now offers a very affordable alternative to the traditional re-mortgage.

One other reason for this sectors continuing success is down to the interest rates being charged by the so called “pay day lenders”, people are without doubt becoming very wise to the true cost of this form of lending.

Records show approval for Second Charge Loans are this year to date 61% higher than the turn of the year last year. This is no surprise to us as this form of lending really is a very good alternative to others on the market.

If any homeowner is looking to raise capital we would always recommend they seek professional advice as to which loan solution fits their needs. Unsecured loans from high street banks and other sources can be notoriously expensive we have all seen the rates charged by the “pay day” lenders. It is crucial to get the right deal as the wrong loan could be very costly in the long run.

Need some help?y

If you are considering taking out a second charge loan please do call one of our qualified advisers and they will be happy to guide you in the right direction.


Second Charge Loans

Lowest Loan Rates For 2nd Charge Loans

Positive vibes:

The second charge mortgage market is expected to benefit if banks decide to introduce negative interest rates by introducing the lowest loan rates ever for 2nd charge loans. Various major banks have warned that customers could face negative interest rates if the Bank of England base rate falls below 0%.

Negative interest rates may have a positive impact on the second charge market, which would in turn have a positive impact on the consumer through lower rates. Any reduction in borrowing costs can only be good for the economy as a whole by putting extra money in consumer’s pockets and helping to boost the property market. The second charge market being reliant on economic prosperity and a strong property market should continue to improve lending products and interest rates if base rates are reduced further.

Good times:
We are already in a low interest rate environment and clearly that makes it a good time to borrow given the rates that are already available in the second charge mortgage market.
If rates do continue to fall, it does not necessarily translate to lower rates for first charge mortgage borrowers as this is not always passed on to the customer. Clearly if homeowners currently have expensive debt now is the time to address the problem with so many advantageous deals on offer.
Need advice:
If you are looking to reduce expensive debt please do contact one of our fully qualified advisers and they will be happy to guide you.