Before you take out a loan of any kind make sure you check whether this form of lending could help you. Unsecured lending (payday lenders) is so expensive when you analyse the annual interest rates on offer. Homeowners are waking up to this fact and switching to the cheaper and safer secured lending option. The […]
In these difficult times raising funds to support your business can be a daunting process. It has always been more difficult for self-employed people to get a mortgage compared to salaried employees. At the heart of the issue is a tendency among self-employed individuals to not be able to satisfy loan officers looking to placate […]
June saw second charge lending total £143.3m, helping the sector post its strongest Q2 results since 2007. It says that Q2 lending for this year is up 7.25% on an “already record-breaking Q1” and that lending year to date has reached £840.2m. In total, £143.3m was lent through a second charge mortgage as summer began, […]
The last ten years has seen this type of lending increasing in stature as homeowners become aware of the huge cost of the so called “pay day loan”. For many years a second charge loan was something clients only did as a last resort due to the high costs compared to a re-mortgage. This has […]
Many homeowners these days are looking for ways to raise capital, which is safe, quick, and cost effective. Over recent years property values have increased year on year and the majority of homeowners will be pleasantly surprised to see just what their property is now worth. In the majority of cases it is more cost […]
Second charge lending totalled a new post-credit crunch record of £138.4m in February, posting a year-on-year increase of 83%. The figures from second charge lenders, showed a strong start in 2022 as January had a lending total of £111.4m. The number of loans written was all but identical between December 2021 and January 2022 at […]
Second charge mortgages are becoming a progressively more competitive way for borrowers to raise funds on their existing property, and product innovation means that there are more ways for clients to access a second charge mortgage. For example, a growing number of landlords are choosing to raise capital with a second charge on a buy-to-let […]
Confused about your next loan, you’re not alone I assure you? An unsecured loan is a loan made to a party without any particular asset offered as collateral/security. A secured loan on the other hand is secured on your property, which has very different implications. Unsecured loans are usually for small amounts but can be up to […]
More people than ever before are turning to a second charge mortgage to raise funds rather than taking out a personal loan or re-mortgaging. What is a second charge mortgage? Second charge mortgages are becoming increasingly popular, with the number of people opting for one at its highest level since 2008. They allow you to […]
Re-mortgage or a second charge do you know the difference? Why would one opt to take the second charge route rather than re-mortgage? For example, many customers have a really good first mortgage deal, maybe a great fixed or tracker rate that they don’t want to give up. Taking a second charge at a higher […]