SECOND CHARGE MORTGAGES & LOANS

Call Me on: 01494 526400 or send a message to: steve@snmortgages.co.uk

Steven Neale

Steven Neale

Finding a mortgage if you have a poor credit history is difficult and has to be approached very carefully because of the shortage of lenders in this market. Having the advice of a qualified Mortgage Adviser will greatly enhance your chances.

With only a few sub prime lenders to choose from, getting it right first time is very important.

SECOND CHARGE MORTGAGES & LOANS

SECOND CHARGE MORTGAGES & LOANS. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Do you need a loan but your existing mortgage lender has said no?

The answer maybe a Second Charge Mortgage Loan if you have:

  • Credit card or loans debts on high interest rates
  • Need funds to put your children through University
  • Pay for school fees
  • Buy a new car or holiday home
  • Carry out some home improvements
  • Give your children or grandchildren a deposit so they can buy their own home
  • Pay for a Wedding
  • ‘Pay off’ a mortgage partner
  • Have a tax bill to pay
  • Deposit for a Buy to Let property
  • Tied into a fixed rate mortgage with redemption penalties
  • Raise capital for business purposes
  • Clear your Overdraft
  • You want to keep your low interest rate mortgage product with your existing lender
  • You have adverse credit and your existing lender will not lend to you
  • Been offered a further advance from your current lender but at a higher interest rate
  • Currently on an interest only mortgage
  • Recently self-employed, retired or have income from multiple sources
  • Cash flow problems – take a Second Charge Loan whilst waiting for debtors to pay you
  • Repay a Directors loan

These are only some of the many reasons why a Second Charge Loan may be the answer.

What is a Second Charge Mortgage?

It is simply another loan secured on your property just like your mortgage. Your mortgage lender has a first charge on your property so is first to be paid if you sold your property followed by a second charge lender.

What interest rate do they charge?

Because second charge lenders are second to be paid, the risk is they may not get all of their money back if your property was sold. Therefore, they charge a slightly higher interest rate. The good news is the more equity you have in your home, the safer they feel so the interest rate they charge would be lower.

The Second Charge Loan market is very buoyant at the moment with lots of lenders looking to lend. Although interest rates are not as low as first charge lenders (i.e. the High Street mortgage lenders) rates are still very competitive.

To find out more, please give me a call and I can put you in touch with one of the expert firms I deal with for Second Charge Loans.

Secured Loans are provided by Introduction Only

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

For more information on how I can help you with Second Charge Loans, please call me on: 01494 526400 or complete my online enquiry form.

3 REASONS TO ASK ME TO ARRANGE YOUR MORTGAGE

Years of Experience

I specialise in adverse credit mortgages – mortgages for people who have a poor credit history because of any number of reasons.

Choice of Lenders

I am a whole of market credit mortgage broker meaning I can talk to every lender to see about finding you the right mortgage.

Saving You Money

As a specialist mortgage broker for over 29 years I have a great deal of experience that will help save you time & money.

Contact Me

La Cachette, Upper Stanley Rd
High Wycombe, Bucks HP12 4DB
 
T: 01494 526400
M: 07949 713563
 

My Fees

My fee for arranging a mortgage is 1% of the mortgage amount with a minimum fee of £1,995.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

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