The second charge sector continued to shake off post-Brexit troubles, with new business volumes in the traditionally-quiet August and September up 6% on 2015. A report – drawing on data from the Finance and Leasing Association – shows that in July the total value of monthly second charge lending actually increased by 4% from £70m […]
On the increase Secured second charge lending was 41% higher in September and October this year compared to the same period last year. We reported this financial year had started with record levels of applications and the trend is continuing. Since to Brexit vote enquiries have increased substancially as homeowner strive to reduce expensive long […]
Why choose second charge: Second charge loans can be a real alternative to a re-mortgage. While every application needs to be considered on its own merits, the second charge industry has recently become far more competitive and attractive. Why you should consider a second charge: A) Keeping your existing low rate mortgage. You may have […]
Can I get a second charge mortgage? You do not necessarily need a very good credit score to get a second charge mortgage. In fact, in some cases, you may still be able to get a second mortgage with a bad credit score. Obviously, in order to be considered for a second mortgage you need […]
Second charge on the up and rising: Second charge lending activity has seen a definite surge in recent months, driven by record low rates and rising house prices, which have encouraged homeowners to reconsider their finances. So much so, that the number of second charge loan transactions has risen to the highest level seen in […]
Second charge lending ever more popular: A recent survey has found nearly one in six self-employed workers has had a re-mortgage application rejected. The findings highlight the problems of proving income and affordability for customers who are not full-time employees, according to the survey. Despite their self-employed status, nearly half (48%) of respondents said they […]
Help for the self-employed Currently, the second charge lending market offers a good alternative to self-employed borrowers, in particular for those with little track record or complex income structures. Products are out there whether the client has just one year of trading or is well established in their business. Lenders are softening in their approach […]
Which loan is the best? Most importantly the interest rates on a secured loan are normally a great deal lower than the rates on unsecured borrowing, but they do vary from lender to lender. There are several advantages to secured loans. First, you can borrow a larger amount with a secured loan than with a personal […]
Second charge mortgages are being used for home improvements more and more as well as debt consolidation in 2016 the latest research has revealed. Between January and August this year one in three (33%) second charges were used for home improvements, twice as many as a year ago, while 75% of customers used second charge […]
2nd Charge lending boom There is little doubt secured lending popularity is increasing daily. Second charge mortgages have increased this year month on month and continue to do so. Since the Brexit vote enquiries have increased substantially as homeowners look to reduce other expensive unsecured debt. Unsecured debt can be very expensive, second charge lending […]