Entries by 2nd Charge Loans

Why would you consider a second charge mortgage?

There are a number of reasons to apply for a second charge mortgage and they include. Debt Consolidation Home improvements/extensions Helping with University fees Helping your family with a deposit for their first home Buy-to-let property purchase Children’s tuition fees Payment of a tax bill Who can apply for a second charge mortgage? A second […]

15 months of continued growth.

The second charge mortgage market continues to grow with the value of new business reaching £116 million in November 2019, figures from the Finance & Leasing Association (FLA) show. This is a rise of 17% from November 2018 with the number of new agreements rising by 14% to 2,594. In the 12 months to November […]

Second charge lending has increased!

Second charge lending has increased in the last twelve months, plus the number of homeowners taking out these specialist mortgages increasing by nearly a quarter. The value of new business in this area of the mortgage market went up by 25.8% to £111 million in February 2020, according to new figures. Meanwhile, the number of […]

Why is there such rapid growth for second charge mortgages?

In these challenging times of financing it has become more important to be able to complete a deal within a set timescale. Second charge finance has grown in status year on year and is going from strength to strength since regulation. A second charge delivers funding quickly and efficiently which is something high street and […]

Home improvements and the second charge

Second charge lending has always been a popular choice for people carrying out home improvements. In many instances, where the improvements are likely to result in a significant increase in the house price, it can be beneficial to take a second charge mortgage to pay for the work and then re-mortgage at the higher property […]

Coronavirus – Looking to raise funds?

We are living in very strange times and many things are not clear, if you are looking to raise funds as and when this crisis is over it is strongly recommend getting the “ball rolling” sooner rather than later. All experts are predicting there will be a huge surge of lending applications later in the […]

Coronavirus – Looking to raise funds?

We are living in very strange times and many things are not clear, if you are looking to raise funds as and when this crisis is over it is strongly recommend getting the “ball rolling” sooner rather than later. All experts are predicting there will be a huge surge of lending applications later in the […]

Pre-Coronavirus lockdown lending up 13%

The number of second charge loans agreed in February was 13% higher than the same time last year at 2,435 figures from the Finance and Leasing Association reveal. However, the data pre-date the covid-19 pandemic hitting the UK and the ensuing lockdown, which put the brakes on the property market. The volume of loans agreed […]

Second charge mortgage, could it help you?

They are widely available through specialist lenders, yet the latest research suggests it’s only the minority of people who explore them as an option when looking at ways to raise money. Of the minority who were aware what a second charge mortgage was, 28% didn’t understand what the difference between this and a re-mortgage was. […]

Second charge market is booming in 2020

Coronavirus – If you are looking to raise funds it is still a good time to start the process and keep “ahead of the game”. We are expecting a very busy period once the restrictions are lifted, therefore making provisions now will speed up the release of funding. The second-charge lending market used to be […]