Second Charge Loans
Second Charge Loans can be an alternative to Remortgages or a Further Advance
Landlords can arrange to release funds from their Buy to Let properties using a second charge loan. This can be cheaper than a Bridge Loan with the option of having the loan over a longer period.
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What can these loans be used for
Second charge loans can be a good alternative if you are locked into a fixed rate which requires an early redemption charge (ERC). A second charge loan is a real alternative allowing the client to raise additional funds without incurring these charges
As the loan is secured against your home, it gives lenders an extra level of security. As a result, these loans are usually for larger amounts of money.
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Buy to Let mortgages and Commercial Lending are not usually regulated by the Financial Conduct Authority.
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