Second charge lending has many uses and one of the advantages 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. This type of lending can be suitable for a far wider range of situations than many realise.
A second charge mortgage provides an extremely useful alternative where consumers want to raise additional funds but do not want to change their existing first charge mortgage – especially if there would be additional costs in doing so.
There are some very clear benefits a secured loan can offer when used correctly, which could well improve borrowers long-term financial prospects. Although consolidating debt is not always the right answer, a secured loan is often a suitable option given the lower interest rate charged when compared to an unsecured loan.
Suitable for you?
- Fast completion
- Low-interest rates
- No need to change original mortgage
- Vast amount of uses
- Total flexibility
- Loan terms to suit majority of needs
Second charge lending has so many benefits it is worth checking out whether this may suit your needs. Do ensure you seek professional advice as there are so many options.
Need some help?
Please don’t hesitate to contact if you require any assistance raising funds, one of our advisers will be happy to assist.