The latest data released has revealed that the average value of a residential property across the country is at an all-time high. This information puts the homeowner in a strong position if they are contemplating raising finance and using the home as security.
Homeowners have choices if they wish to raise capital, they could re-mortgage or take out a second charge loan secured on the equity within the property.
Second charge lending has made huge strides in the last 3 years and now should be considered before any decision is made about re-financing your property.
Second charge lending offers a fast and effective way to raise capital at a very reasonable cost. Interest rates and set up costs offered by lenders have reduced significantly over the last couple of years in line with the mortgage market.
In the past re-mortgaging was by far the most popular route taken when fund raising was required but not anymore.
The range of second charge loans are increasing every day with more flexible repayment methods being offered which has found favour with the borrower. Repayment periods are flexible and are generally set to suit the client’s wishes.
Please do contact us for any assistance you may require as choosing the correct loan to suit your needs can be a daunting task.