So, you think you know about loans?
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