Secured Loan - News

Read the latest secured loan news and articles from our blog.

How many ways do you know of to use the cash raised from obtaining a second charge mortgage? If you are thinking second charge products can only be used for debt consolidation and modest home improvements, think again. There are many more strategic ways to take advantage of second charge borrowing.

14 March 2017.

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Obtaining a second charge mortgage on home equity results in the filing a lien. This lien is legal proof of the lender's financial interest in the property used as collateral. The second charge subsequently placed on the property puts the lender in line for repayment in the event of default.

20 October 2016.

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Changes to the stamp duty law put in place to slow down the buy-to-let market have done just that. But now we are learning those same changes are also harming homeowners and buyers who have nothing to do with investment properties. A good example is something now being called the 'love tax'.

06 October 2016.

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Self-employed workers have never found it easy to borrow money for a home, car, etc. Where first mortgages are concerned, borrowing is still a challenge. But the self-employed are gradually realising that the 2nd charge market is more friendly to them than ever before. In short, lenders are looking to lend.

16 September 2016.

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In the six months since the FCA brought 2nd charge mortgages into the same arena with other mortgage products, some brokers have been slow to get on board with the new rules. Others have seized opportunities that have yielded great results. This is good for both lenders and consumers alike.

09 September 2016.

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Prior to the mid-1970s, the second charge loan was virtually unheard of as a common form of borrowing. Lenders who did loan money on equity were not regulated, giving them the opportunity to take advantage of consumers. That's no longer the case thanks to the Consumer Credit Act of 1974.

06 September 2016.

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Second charge loans may be forced to take a temporary break now that lenders are re-evaluating their lending criteria. The next few months will dictate what direction the market goes in for both the long and short term. If Brexit negotiations go well, the second charge market should do just fine.

05 July 2016.

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Homeowners looking to raise tens of thousands of pounds in financing can choose to either remortgage or obtain a second-charge mortgage via their equity. Both options have their advantages and disadvantages; they must be looked at in light of the consumer's current financial situation and future expectations of income.

05 May 2016.

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