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.