2017 saw a sharp rise in the number of homeowners looking to utilise a second charge loan to consolidate their expensive long-term unsecure debt. This notable growth in the level of household debt, alongside record low rates on second charge products, are combining to boost demand for second charge loans. 2018 has seen the trend […]
The second charge loan market has recently been hitting the headlines revealing large increases in application and completion levels. In years gone by the process of a second charge mortgage had been very different and proved very confusing to most homeowners. Borrowers clearly did not fully understand how a second charge loan worked or how […]
Almost nine out of 10 Second charge loan applications through an intermediary (broker) resulted in an offer in 2017 – up from seven in 10 in 2016. What is more four in five of those offers went to completion, up from seven in 10 the year before. In particular second charge borrowers have benefited from […]
Brokers and lenders alike have welcomed the Bank of England’s latest figures clearly showing second charge lending hitting an all-time high. The figures highlight new and existing buy-to-let investors have raised the required deposit levels by taking out second charges on existing property holdings. Landlords have been hit from all angles of late, but this […]
Raising funds at any time in life especially nowadays can be very daunting and expensive if you get it wrong. There will be various reason you need to raise cash and many options open to the majority. First piece of advice to heed is to get professional advice as the wrong loan over a period […]
The first reports on second charge financing of 2018 are suggesting that the rise in new business numbers recorded in 2017 will continue in 2018. However, it is felt that the increasing popularity of secured loans did not happen without a lot of effort from brokers and lenders alike. What the new figures don’t reveal […]
Second charge lending has many uses and one of the advantages of this type of loan lies in its flexibility. It may be the case that those who need to raise funds are not aware they can do so through a second charge which is, of course, where advisers and brokers come in. This type […]
Borrower’s turning to second charges With tougher lending rules now in force, more homeowners are turning to a “second charge” loan to fund home improvements, such as extensions, or consolidate debt. Industry figures show a 27.5% rise in the sums borrowed this way in the six months to the end of December 2017. The rise […]
Second charge lending has many uses and one of the advantages of this type of loan lies in its flexibility. It may be the case that those who need to raise funds are not aware they can do so through a second charge which is, of course, where advisers and brokers come in. This type […]
It is, without doubt, secured lending popularity is increasing daily. Second charge mortgage completions have increased at a rapid rate over the last 2 years since regulation. This type of lending is quick and easy if you own a property, lenders are increasing their product portfolios at a rapid rate. An average case presented will […]