A second charge mortgage should always be considered when raising capital against a client’s property. This may be a more suitable option to a remortgage in the following circumstances:
- The customer wishes to retain their existing mortgage product
- They have ERC’s on the existing mortgage
- They have a poor credit profile or adverse credit
- The reason for the loan is not permitted by a first charge lender
- Recent self-employment
- A first charge lender will not include all sources of income
We have an extensive panel of lenders offering:
- Rates from 3.65%.
- Enhanced income multiples
- Loans are available from £3,000 up to £2m
- We can lend up to 95% overall LTV
- Low ERC’s on most plans
- Loans available on both residential and BTL properties
❚ Our Second Charge Lender Panel:
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Paragon
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Shawbrook Bank
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Together
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Masthaven
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United Trust Bank
-
Step One
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Central Trust
-
Spring Finance
❚ Second Charge Referral Service
This service is available to advisers who do not wish to advise on second charge mortgages with remuneration for introduced cases up to 1.75% of the loan amount.
Simply refer the details to us and we will contact the client and provide the most appropriate advice for their circumstances. Click here to view our guide to second charge mortgages.
For further information, or to make an enquiry, please contact us on 01748 810177 / 07795 810195 or email [email protected]