The second charge loan industry has increase rapidly over the last 2 years setting numerous records along the way for business conducted. The facts are the second charge loan market has rapidly increased by a massive 31% in 2016, with the total size of the sector reaching record levels. What is even more astonishing when you realise […]
Are you aware? Second charge mortgages are widely available through specialist lenders, yet this 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, 30% didn’t understand what the difference between […]
A recent survey of lenders has shown second charge loan interest rates are decreasing, this is no doubt due to the competition within this fast-growing market. Lenders are keen to secure new business and this is driving rates and fees downwards. More lenders are finding ways of attracting business and this is often reflected in […]
The early part of 2017 saw a sharp rise in the number of mortgage advisers looking for second charge loans for clients concerned about their expensive long-term debt. According to figures from the Bank of England, Brit’s personal debt grew 11% in the year to 30 November 2016 to stand at £193bn – the highest […]
The number of people opting to take out a second mortgage has leapt to its highest level since 2008, according to new industry data. During March, £93m of second charge mortgages were taken out – up 22% on the previous month. The figures show that growing numbers of homeowners are deciding to cash in on […]
Second charge lending has many uses and one of the benefits 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. Benefits of […]
The number of loan applications has seen an increase of nearly 23% in the quarter ending March 2017 compared to the Q4 ending December 2016. April and May have continued to increase as consumers become more aware of how a second charge loan could benefit them. It would seem the UK public are keen to reduce expensive […]
2017 has seen a significant decrease in the completion time for second charge loans which is great news for the industry on the whole. Confidence is growing rapidly in this type of lending as the general public see the benefits it has to offer. A reduction in completion time is a deal is good news […]
Getting more and more attractive There has been a flurry of activity in the second charge loan sector recently as lenders look to re-price their products downwards. We are pleased to inform you second charge loans are at their lowest rates the sector has ever seen. Great news for borrowers indeed, this is without doubt […]
The second charge mortgage market has undergone huge changes over the last 12 months following the regulation of the sector by the FCA. This has made second charge mortgages move centre stage, and acquire a greater veneer of respectability, but it comes with additional responsibilities. Some of the original rules attached to them under regulation […]