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Understanding Second Charge Loans
Commonly made available to people who are paying off a mortgage and who have gained a degree of equity in their property, second charge loans are – in effect – secured loans that can be used for any legal purpose. In other words, you can obtain one with an additional charge that is added to your monthly payments alongside your mortgage. Think of it as using your home’s equity as a security on a loan or as a way of refinancing your current borrowing without the need to remortgage. There are other financing options available to homeowners which is why we always take the time to consult fully with all of our clients before making recommendations. After all, we always want what is in your best interests at Try Financial. We can help in numerous ways and are specialists if you have had a prior poor credit history before obtaining your current mortgage deal.
Why Consider Taking Out a Second Charge Loan?
People need access to the funds available from second charge loans for all sorts of reasons. For some, it might be that they need funds rapidly and this sort of loan provides the quickest method of releasing them. Maybe you need to settle a credit card debt before you are charged interest penalties or, perhaps, you have changed jobs and need short-term cash to see you through until your first salary hits your bank account? Whatever the reason, getting the credit from your current lender may not be possible. If so, we can help you to find a suitable second charge loan solution. Remember that you won’t need to remortgage and potentially lose your low tracker rate as a result. In this sense, second charge loans offer a very flexible alternative to other sources of cash, such as equity release, for example.
Turn to Try Financial to Help Secure Your Second Charge Loan
If you are considering the merits of a second charge loan and want help to obtain the right sort of deal for you, then Try Financial can help. We have all the necessary know-how to track down a loan of this type which will meet your requirements exactly. After all, we have over 60 years of experience helping people all over the UK to find the right sort of financing and to spend their loan on the things that really matter to them. Bear in mind that we can arrange rapid second charge loans that are the equivalent of the total value of owner-occupiers’ current mortgages and up to 85 per cent of buy-to-let mortgages. Why not see how we can help?
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Aaron was absolutely incredible throughout the whole process, constantly going above & beyond to get our mortgage sorted efficiently. Aaron was always happy to help and answer any questions I had... read more
As a first time buyer, I was a bit ‘in the dark’ with the whole process but I absolutely feel like I have sailed through with the help of Aaron... read more
Helped us enormously and I wouldn't hesitate to recommend the company. Aaron was really helpful and informative throughout the whole process. Thank you!
Thank you to Try Financial and especially Aaron for helping us buy our dream home. The whole process was made a lot less stressful thanks to your advice, chasing things... read more
When we decided to buy a new home we where very unsure of the process of paying off our existing mortgage and applying for our new mortgage. After having the initial... read more