6 reasons why you should consider a second charge loan.
These are much more competitive than you may realize, and are often comparable to regular mortgage rates, with a choice of variable or fixed rate options.
Second charge lenders may be more flexible than first charge lenders. Both types of loan are heavily regulated, with the intention of providing the best advice for you, the consumer, however, second charge underwriting often follows a less stringent set of rules, and the lender underwriters are able to treat you as a human, not a number.
Adding a partner.
It is often possible to add a partner to a second charge, allowing income to be considered for both parties.
Requirements such as home improvements, debt consolidation, tax bill payment, school fees, holiday home purchase, all of these and many more, are acceptable purposes.
Interest-only products are available at very competitive rates, and, as there is no structured capital repayment built-in, these can be a very affordable alternative in many cases.
Dedicated and experienced underwriting teams work very hard to turn around cases in record times. Secured loans are very much faster than mortgages and remortgages.
Let us say “Yes, we can help” – 6 reasons why you should consider a second charge loan
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THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME