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Solutions for homeowners who need to borrow a little extra

Posted: 25/07/2017

Are you struggling to raise enough capital to get your customers the loan size they need?

Did you know that if they’re a homeowner and cannot raise the funds they need by remortgaging, then they may be able to borrow a little extra through a second charge?

The income multiples which second charge lenders work to are higher than those used on first charges. Plus the lenders apply a more flexible approach to adverse and the profile of the clients. For example, adverse over 12 months old is ignored by several lenders with a customer’s pension being accepted as a source of monthly income.

Funds can be raised for any legal purpose, including refurbishments, debt consolidation and raising a deposit to purchase a buy to let.

Product Highlights:

  • Rates from 3.74%
  • Up to 95% LTV
  • Adverse > 12 months ignored
  • No ERCs on selected product ranges
  • No product fees on selected product ranges
  • Buy to let and business loans available
  • Income accepted from self-employed individuals with only 1 year’s accounts, regular bonus/ overtime/ commission, some benefits, second job and pension

Here to Help

For help placing a case, contact our Specialist Team:
call 01702 538 800 or request a call back