The second charge loan market has recently been hitting the headlines revealing 3-year high lending figures breaking all recent records. In years gone by the processes for first and second charge mortgages had been very different, and this proved confusing to most people. Borrowers clearly did not fully understand how a second charge loan worked […]
More and more borrowers are turning to second charge loans as mortgage companies tighten controls on borrowing. Figures just released for the last quarter show “seconds” increasing to homeowners by 19% on the previous quarter, these increases are likely to be down to tighter controls from high street banks and other traditional lenders. Brokers up […]
New types of loans make second charge lending a very serious player in the lending market as client confidence grows. Over the last 24 months, interest rates have reduced considerably making this type of loan a very serious option to a re-mortgage. New lenders entered the second charge market in 2016 and this pattern has […]
Second charge mortgage business in August 2017 rose in value by 25% compared to the same month last year, according to the figures from the Finance & Leasing Association. There was £91m worth of business in August made up of 1,905 applications – an 11% increase from August last year. The second charge mortgage market […]
It’s no secret that second charge lending is surging ahead as more homeowners look to secure cost-effective loans. Figures clearly show second charge lending is becoming a “household favourite” as opposed to expensive unsecured loans. Homeowner awareness has increased substantially over the last 3 years thanks to brokers taking on board the positives this sort […]
After years of being known as a first charge mortgages slightly less attractive cousin, second charge is starting to come into its own. With many lenders offering lower rates and the majority of master brokers charging lower fees, today’s second charge borrower has access to a very real alternative to a re-mortgage or further advance. […]
It is without a doubt that secured lending popularity is increasing on an annual basis. Second charge mortgage market has increased this year month on month and continue to do so. 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 […]
Second charge business has increased by around a quarter year-on-year a new report just released shows. From May to July 2017 there were 2800 second charges written worth £270m, an increase of 24% and 27% compared to the same three months last year. The latest figures show that more customers are taking out a second […]
Tougher lending rules are forcing more homeowners to turn to second charge loans to fund home improvements, such as extensions, and to consolidate expensive debt. Industry figures show a 28% rise in the sums borrowed this way in the three months to the end of July against the same period last year. The rise in […]
The number of loan applications increased by nearly 22% in the month ending July 2017 compared to the same period last year. There has also been a significant increase in the value of applications for second charges in 2017 compared to 2016. Our finance director commented “I’m not surprised at these figures as second charge […]