A reduction in outgoings.
Second Charge mortgages can offer the ideal alternative to a remortgage, further advance or unsecured loan. This is why they can be really useful for those who desperately need to reduce their monthly outgoing costs.
Here’s how a customer was helped to reduce their monthly outgoings by £291 a month, in just 6 days from the application being received from the customer:
Unsecured debt balance: £25,000
Average monthly payments: £666
The client needed to consolidate her debts to reduce her monthly payments. In addition, she wanted to finance a new bathroom at a cost of £5,000.
The client did not want to raise additional finance through a further advance, or a remortgage due to the resulting high redemption penalties.
The client had already been rejected for unsecured loans because of her high outgoings.
Plus, the client wanted protection against possible rate increases for 5 years and the ability to overpay without penalties.
In just 6 days, the customer received their funds:
- £30,000 over a 20-year period
- Monthly payments reduced to £375, which is a £291 reduction in their outgoings each month
- Fixed-rate for 5 years
- No Early Repayment Charges, allowing them to remortgage later, or make overpayments anytime
With rates from around regular mortgage rates and loans of up to £2,000,000, Second Charges can be used for a wide variety of both reasons, and clients. So why not contact us now?
Let us say “Yes, we can help” – A reduction in outgoings
Office Telephone: 01379 644061
Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527
THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME