SECOND CHARGES

COMMON-SENSE LENDING

When the highstreet declines further borrowing, that’s where a 2nd charge lender could offer a solution. With much more flexibility with income & affordability, credit status, security types, and loan purposes - second charge lenders can provide funds even if you’ve been declined a further advance, or if a remortgage is unavailable or not suitable.

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Why a second charge?

  • Most lenders will lend to x6 of your income, some higher. This is a big jump when compared to traditional highstreet lenders.

  • Avoid an early repayment charge. You may be able to remortgage elsewhere, although early repayment charges can often make second charges a cheaper option.

  • Raise money for a number of reasons, such as business purposes, paying off a tax bill, debt consolidation, home improvements, and more.

  • Relaxed credit criteria. Missed mortgage payments in the past, or ever had a default, or CCJ? 2nd charge lenders understand, and can provide a tailored solution to get you back on track.

  • 2nd charge lenders are very quick compared to traditional lenders, with some lenders offering same-day binding mortgage offers upon submission. Paired with no legals when it goes to offer, this saves a significant amount of time and money.

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