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 re-mortgage if it fits your lending criteria. Second charge lending is growing in stature and is now a very serious alterative to the once traditional re-mortgage.
Lenders have seen the potential growth in this area of raising funds and have responded well by offering competitive short and long-term packages to suit the majority of requirements.
This form of loan will not suit everybody, but it is worth exploring with the advice of a qualified independent adviser. Remember this is a secured form of lending and therefore will in most cases be far cheaper than an unsecured loan.
These days the choices of loans open to 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 professional independent advice.
When should you consider second charge lending?
Second charge loans can be used for many reasons, such as a deposit for a new property investment, buy-to-let and re-development of an existing property to name but a few.
Many borrowers now are also viewing second charge loans as a simple and a cost-effective alternative to mainstream lending.
Second charges are fast and can complete in a matter of days as opposed to months on a re-mortgage.
Can we assist?
When taking out a new loan you should seek professional independent advice, we have a team of experts waiting to take your enquiry so please do make contact.