Approvals rising sharply for second charge lending

Christmas has only just passed and we are seeing second charge lending approvals rising rapidly. Homeowners are keen to clear the festive debt accumulated as quickly as possible.

Second charge lending rates remain at record lows. There is a growing feeling among existing UK homeowners that the first rate rise for a very long time could be on the horizon.

More recently, this feeling has been compounded by the quarter point rate hike in the US in December. Most people now accept that rates are unlikely to get any better and are taking action to lock into the competitive rates that are still on offer.

Many homeowners are looking further ahead and are opting for slightly more expensive second charge fixed deals, they still offer extremely good value in the long run should rates rise. The sense that time is running out on the best rates, coupled with the upcoming Brexit talks has kept the market very busy.

The ongoing uncertainty around the full impact of Brexit has spurred many people into action. The philosophy many people have adopted appears to be one of act now while conditions are at least in their favour.

Can we help?

If you are looking for a second charge loan please do make contact and one of our advisers will be happy to assist.


Second charge