Entries by 2nd Charge Loans

Fantastic start to the year!

Second charge mortgage business volumes grew in the first two months of the year, according to figures published by the Finance & Leasing Association. It said that £143m was lent in second charge mortgages in the first two months of this year, which was10% more than the same period last year. In terms of sales […]

Second charge completions are at a new peak

A survey recently conducted has reported the fallout from Brexit and now Covid-19 has had little effect on the second charge lending market as 68% of loan applications resulted in an offer this financial year. This figure is 24% higher than the same period last year. The proportion of offers that subsequently resulted in a […]

Second charge and reducing debt

Paying off bills has become a major issue in the second charge market with three out of the top five broker-related searches cover debt enquiries or people with county court judgements, according to mortgage database Knowledge Bank. This demonstrates that a number of people are struggling financially and are using their homes to secure debt […]

Energy price are going to increase

The news just broke that this spring many families’ household energy bills are set to rise by £96 per year. So we thought we would take a quick look at easy ways to make sure you’re getting a good energy deal… Energy regulator Ofgem announced a sharp increase in bills for up to 15 million […]

Second charge loans and the advantages

Years gone by second charge mortgages may have been overlooked or consciously excluded from the options considered by mortgage intermediaries for clients looking to capital raise. The alignment of regulation has led an increasing number of mortgage advisers to explore more deeply the options available to their clients, and with good reason. In a sustained […]

The great British DIY season will soon be with us.

Almost half of the UK’s homeowners are planning a home improvement project in the spring/summer, according to recent research. Each homeowner on average will spend £5000 from their savings pot to pay for it. Almost a quarter of people making home improvements are planning to draw on their savings (22%) with the remainder borrowing to fund […]

Confused? What is a second charge mortgage?

A second charge mortgage is a loan borrowed against your home, on top of your existing mortgage. As the second charge is secured against your property, you need to have sufficient equity in your home to support the loan. If you were ever to default on your repayments and have your home repossessed and sold, […]

Raising funds in a cost-effective way

Have you woken up with a bit of a financial hangover after all that festive spending and the Covid-19 problems? Perhaps you have got plans for the year ahead and want a cash injection to fund things, or maybe you need a new car or home appliance to get the New Year off to a […]