Second charge loans on the increase

The number of loan applications has seen an increase of nearly 23% in the quarter ending March 2017 compared to the Q4 ending December 2016. April and May have continued to increase as consumers become more aware of how a second charge loan could benefit them.

It would seem the UK public are keen to reduce expensive debt (credit cards and un-secured loans) so as to free up monthly funds.

Why choose a second charge loan?

  • Faster to complete than a traditional re-mortgage.
  • Normally less fees.
  • Very attractive interest rates.
  • Loans are very flexible.
  • Ability to retain current mortgage deal if on a low rate.
  • Helps the self-employed

Choosing a lender

There are an increasing number of second charge lenders entering the market and choosing one can be a minefield, getting professional help selecting is highly recommended. A broker will take time to understand your needs and be able to place your application with the lender matching your requirements. This is vital as selecting the wrong loan or lender could be very expensive in the long term.

Like too know more?

Our advisers are fully trained and skilled in all areas of lending so please do call us to discuss any requirements you may have.