Solutions for homeowners who need to borrow a little extra
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.
- 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