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 for the borrower, we can confirm our records show that to date this year a 18% reduction has been achieved. The important thing is the lenders we use are still looking for ways to reduce the time even more, this just goes to prove how serious they are about this type of business.
This year has seen a significant increase in the second charge market as more borrowers look to secure faster financing for their upcoming projects. Traditional high street lenders still are lacking the ability to compete with seconds financing for speed and efficiency.
As more people use second charges so the products increase, over the last 2 years we have seen a steady increase of deals on offer. This unique type of lending is most certainly far more flexible than the majority of re-mortgages that are available.
All this spells good news for the borrower as the product choice and options expand plus the costs are reducing.
With so many substantial changes taking place on a rapid scale it is without doubt best advice to seek help before you make any decisions regarding your future financing. This course of action could well save you thousands of pounds in the future.
Can we help?
If you require any assistance with your future financing please call one of our experienced advisers, we are here to help.