second charge loan identifier

Second Charge Loan Identifier

Second charge loan identifier:

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Sometimes, a second charge loan can be a better solution than a remortgage, but it’s not always easy to know when. That’s why we’ve put together the second charge loan identifier.

When a second charge loan works better than a remortgage:

When you are on a low SVR or base rate tracker mortgage which is too competitive to remortgage away from but still want to raise additional funds.

When you are on an Interest-Only mortgage; A remortgage will force you onto Capital and Interest, often raising payment to an unaffordable level.

An excellent solution for recently self-employed people, and those who need to work off projected figures to prove income.

For those with adverse credit in the last 3 years.

For those who wish to raise money on Buy-to-Let properties.

A Second Charge can be used for almost any purposes (consolidation, business purposes, tax bills, etc)

Product overview: 

Loan amounts from £10,000 – £2,500,000

Low interest rates

Up to 95% of property value, sometimes 100%

Adverse credit registered over 12 months ago may be ignored

Fixed rates are also available

1st and 2nd charge BTL loans available

There is the ability for cases that are outside criteria to be referred

Interest-Only products are available

Can raise money on residential property for business purposes

Let us say “Yes, we can help” – For second charge loan identifier assistance

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp or Viber  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE

For Buildings and Contents Insurance, Click HERE

larger loans accessible

Larger Loans Accessible

Larger loans accessible

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Larger loans are becoming more accessible this year and I am hearing about a bigger take-up, as more people realize the benefits of these, and how they may help them.
Loans from £100,000 to £200,000 are more common; here are some recent large loan scenarios where you may consider a Second Charge loan:

£200,000 – For business investment
A client wanted to buy a share of his current company. This would increase his income through dividends and he wanted a lender to use the extra income within the affordability calculation.

£150,000 – Refurbishment – No kitchen or bathroom
This client was considering a bridging loan to bring the property up to mortgageable standards and intended to move in and then refinance.
However, a term lender agreed to take on the case which removed the need for an expensive bridging loan, also saving unnecessary fees. The client also got a far lower interest rate and didn’t have the pressure of exiting the bridge, a win-win situation.

£97,000 – Full consolidation
This client had a combination of credit cards and expensive loans which had built up over the years.
They could afford to make minimum payments but not much more, so the balance was hardly reducing.
A full consolidation loan reduced the outgoings by £1600 per month and immediately started eating into the balance outstanding.
With the ability to overpay, the clients were in a position to make further capital reductions when it suited them.

£110,000 – To pay a tax bill
It’s that time of year where many people start to worry and struggle… HMRC do not take prisoners, there are no excuses allowed when they need their payments. A large loan may provide a very worthwhile breathing space.

These larger loans are more accessible than previously and although deemed as Regulated, they come under a different set of rules when compared to regular mortgages, therefore have underwriting advantages.

I am here to support you and your needs, feel free to speak to me directly or use online contact as below.

Let us say “Yes, we can help” – Larger loans accessible now

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp or Viber,  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE

For Buildings and Contents Insurance, Click HERE

Self-Build development loan

Self-Build Development Loan

The Self-Build Development Loan

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Here is a great product for you, or those who want to build a house in their garden.
The problem many borrowers have is lack of development experience, or the loan is deemed as `regulated’ so there is a lack of lenders.

This new product availability ticks lots of boxes as follows:

  • Available on regulated cases
  • You don’t need to be an experienced developer
  • Ground-Up developments including:
    o Self-build
    o Barn conversions
    o Extensions increasing property by more than 50%
    o Basement excavations
  • Up to 50% of the purchase price
  • Up to 25% of site value if already owned
  • Up to 100% of build costs
  • England Scotland and Wales

There are many other types of loan product available for non-standard or unusual reasons, including an Open-Ended loan, with no expiry date, and suitable for land or property regardless of condition – ideal for refurbishment of a property that is deemed Uninhabitable; no kitchen, no bathroom, rising damp, wet/dry rot, Etc.

Let us say “Yes, we can help” – Self-build development loan.

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp or Viber  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE

Do you have Buildings and Contents Insurance? Click HERE

No mortgage history

No Mortgage History

No Mortgage History.

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How we helped:

Recently, a non-standard request was made where a client had purchased a property just 3 weeks previously, and therefore had no mortgage history. The client wanted a loan for £150,000 to conduct some improvements to the property, which would include a new extension. However, he did not want to move into the property until the works had been completed.

On the face of this, the case wouldn’t be considered by most high street lenders, as the client wasn’t residing in the property, and had no mortgage history on this new home. However, the client was referred to a very specialist credit team in the hope that they would see the merits of the proposal, that being the client earned a very good income, was in stable employment and had put down a significant deposit to make the loan-to-value a reasonable figure. The lender approved the referral for a £156,000 second charge loan and left the client absolutely delighted with the offer made available.

Let us say “Yes, we can help” –  No mortgage history.

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp,  BBM or Viber,  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE

For Buildings and Contents Insurance, Click HERE 

Third Charge Loans

Third Charge Loans

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A Third Charge loan is available up to 100% of a property value.

If you have a decent first and second charge rate and want to raise more cash but your circumstances mean that refinancing would be a disadvantage and leave you with an overall higher rate, a third charge could be just the answer. Whilst the third charge is marginally more expensive, the overall blended cost could be far lower.

A degree of Adverse Credit reference is allowed, for example:

• 5 months current loan arrears – max 2 months in last 12 and must have paid the last 3
• Maximum of 2 payday loans in last 12 months
• No missed unsecured in last 6 months but can have a maximum of 3 months down in the last 12 months

100% Loans of up to £35,000 are available.

This could suit you where a remortgage might hike up the overall rate or you just don’t have the equity to remortgage. It is also for those who would fail credit score for an unsecured loan but they don’t want to pay the higher rates of guarantor/payday loans, or where your mortgage lender won’t consent to a second charge.

The 100% plan with higher levels of adverse is available on both a second or third charge.
These products are niche and not the lowest rates you will see, but as part of an overall solution or strategy, they could often be more cost-effective.

Let us say “Yes, we can help” – Third Charge Loans

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp, BBM or Viber,  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE…

Do you have Buildings or Contents Insurance? Click HERE…

So You Think You Know About Loans?

So, you think you know about loans?

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Historically second charge mortgages, more commonly referred to as loans, were seen as a last chance option for a client’s borrowing needs. The rates were much higher and carried hefty early repayment charges. However, fast-forward to today, loans are regulated exactly the same as mortgages, and in many circumstances can be more appropriate than a remortgage. So… do you really know about loans and second charge mortgages?

There are many scenarios when a loan could benefit you when looking at capital raising and can offer a welcomed haven against some of the restrictions on the first charge (mortgage) market.

Characteristically, we see loans for customers who are looking to:
• Retain their current low-rate mortgage / interest-only mortgage
• Raise capital on BTL properties
• Circumvent the early repayment charges that a remortgage may be subject to
• Capital raise where any adverse credit means you are unable to remortgage on the high street
• Raise funds on a term-loan that would take you beyond normal retirement age
• Avoid paying upfront fees or costs for valuation
• Receive the funds sooner than a standard remortgage could offer

We are specialists in Residential, Buy to let and Commercial properties, and offer advice and recommendation on the marketplace as a whole, we are not tied to one lending source, application route, nor institution. For loans, we have access to a diverse panel of lenders who are able to provide solutions for all circumstances.

Let us say “Yes, we can help” – So you think you know about loans?

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp, BBM or Viber,  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE

Debt consolidation

Debt Consolidation

Debt consolidation.

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I have a thought for you on Debt Consolidation – As rates start to creep up, many of you are likely to consider some form of consolidation, to place all your expensive commitments into one less-expensive loan.

But will higher rates put pressure on lender affordability calculations, or might you already be struggling with your existing commitments?

Here’s where a loan can help right now:

  • Less risk and hassle for you – Our process can access the lenders’ credit search and can take on the entire advice process so that you can achieve the best outcome
  • Sole purpose debt consolidation – even if the loan is over £100K, the whole amount can be used to consolidate debt
  • Even with missed payments – our lenders will accept mortgage and unsecured arrears, CCJ’s, and even settle debt management plans (DMPs)
  • Generous affordability – Without loan-to-income caps that are used for mortgage calculations, our lenders are more interested in your income and outgoings
  • Other loan purposes – often consolidation is in conjunction with tax, business investment, marital splits or other personal use
  • Low Early Repayment Charges with an option to remortgage later – Consolidation now could make a remortgage at Prime rates easier in the future?

And finally…. For when your “Bank says No!”

…..We can often say “Yes” – Debt Consolidation

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp, BBM or Viber,  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE

 

About Loans

About Loans

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Loans can be used for many purposes:

  • Home, Business or Buy-To-Let
  • Capital Raise or Debt Consolidation
  • No long-term tie-ins, mostly Penalty-Free
  • No Upfront Fees
  • Employed / Self-Employed/ Company Directors
  • From £3,000 to £1,000,000 available, subject to criteria
  • No changes to your current mortgage or terms
  • Client-Friendly flexible underwriting and high-income multiples
  • All credit circumstances considered

And finally…. For when your “Bank says No!”

…..We can often say “Yes” – About loans

Office Telephone: 01379 644061

Office Mobile:  Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

Return to Homepage HERE