Second Charge Loans remain a popular choice among home owners who are looking to raise additional capital. They are quick and simple to arrange, with Loans starting from £5000, up to a normal maximum of £500,000. Loans can be repaid over a term that best suits individual circumstances, typically between 3 and 25 years.
Through our partners you can access the best rates available in the marketplace today. They will be able to discuss a wide choice of schemes to suit a variety of circumstances.
And the good thing is that a second charge loan can be used for any legal purpose.
Why consider a Second Charge Loan?
- Is suitable for employed or self employed customers
- Fewer age restrictions – min age 18, max 80
- Repayment periods of up to 30 years
- No up front costs
- Allows you to retain your current mortgage without incurring unnecessary Early Repayment Charges (ERC’s)
- Products available even if you have a poor credit rating, including mortgage arrears, CCJ’s, Bankruptcy and IVA’s
- All loans are regulated under the Consumer Credit Act which means there are no costly ERC’s. Maximum charge is two months interest and some Lenders charging as little as £195
- Products available for self employed customers without fully audited accounts.
- Loans available up to 95% loan to value
- Loans available on Buy to Let properties to 80% loan to value, with 110% rental coverage.
Your Second Charge loans is available for any legal purpose – for example
- Home Improvements
- Debt Consolidation
- Purchase of a New Car
- Holiday Homes
- Repay a Tax Bill
- Business Purposes
- Cosmetic Surgery
- School Fees
- Investment Properties
- Repay mortgage arrears
- Repay outstanding CCJs
To see if a secured loan is a possible a solution to your borrowing needs, please complete our short enquiry form and we will put you in contact with one of our Secured Loan Finance Brokers.