Second charge offers flexibility: Second charge mortgages or loans have always offered have much more flexibility on the approach to lending, largely because lenders tend to make more bespoke decisions. And that is only getting better particularly for those master brokers and packagers who can offer a range of solutions. Second charge lending is becoming more […]
Second charge lending rates reduce: Lenders have seen the potential growth in the second charge lending market and have responded well by offering very competitive short and long term packages to suit the majority of needs. Over the last 12 months second charge interest rates have tumbled and are now very much in-line with a […]
Secured lending approvals see increase in Second Charge Loans 2016 has seen the Second Charge Loans market reach new heights as homeowners look to reduce the high cost of unsecured lending. Applications in the first half of the year are over 70% higher than the same period last year. The Bank of England has reduced […]
Positive vibes: The second charge mortgage market is expected to benefit if banks decide to introduce negative interest rates by introducing the lowest loan rates ever for 2nd charge loans. Various major banks have warned that customers could face negative interest rates if the Bank of England base rate falls below 0%. Negative interest rates […]
Unsecured versus Secured There are several advantages to secured loans. First, you can borrow a larger amount with a secured loan than with a personal loan that is unsecured. For example, many banks and building societies will lend up to £100,000 on a secured loan. With a personal unsecured loan, the maximum advance you are […]
Enquiries increasing post Brexit A recent report has revealed the 2nd charge market has received an “unprecedented” number of enquiries following Britain’s vote to leave the EU. In a post-referendum outcome it is reported that the uncertainty in the market caused a record number of customers to make new lending enquiries. It is without […]
Secured Lending Surges On Secured second charge lending was 39% higher in May and June this year compared to the same period last year. We reported this financial year has started with record levels of applications and this shows no signs of slowing. Second charge lending has always been in the market place […]
Second Charge Mortgages Gaining Popularity: Up to four in ten re-mortgages or home owners seeking further advances in the UK could benefit from taking a second charge loan, it is claimed. Secured lending specialists believe that a combination of record low rates in the second charge market and the sector’s strong growth since 2014 […]
So the Mortgage Credit Directive (MCD) has been implemented and the world is still spinning. Many extra hours were put in by lenders, brokers and intermediaries to implement IT changes and make policy amendments so that systems and processes could continue to run smoothly after the 21 March this year. In almost every company this […]
Second charge lending continues to grow in stature month on month as homeowners look for loans at affordable rates. Homeowners are becoming very aware of the costs associated with unsecured lending and the so called “pay day lenders”. A recent survey taken from 1000 homeowners clearly shows speed of completion is a very key factor […]