Tag: Second Charge Mortgage
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Second Charge Mortgages are Booming
It seems homeowners are turning to second charge mortgages in droves! New figures show that borrowing against your home is more popular than ever. The amount lent out in second charge mortgages shot up by 17% in the first half of 2024. That’s much faster than any other type of borrowing, leaving even loans for…
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Home Improvement Dreams Could Turn into a Debt Nightmare for Homeowners!
Brits Urged to Ditch Credit Cards and Consider Loans for Renovations Thousands of homeowners across the UK are sleepwalking into sky-high interest charges as they plan home improvements, a new study reveals. Pepper Money’s research shows that a staggering 817,400 mortgage holders are gearing up to take on debt for home improvements in the next…
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Second Charge Mortgages Booming as Brits Borrow Against their Properties
Homeowners are increasingly taking out second charge mortgages against their homes, new figures show, with the value of these loans jumping by nearly a third in just a year. This surge in popularity comes as more of us look for ways to unlock cash tied up in our properties, with home improvement projects and consolidating…
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Mortgage Rates Cut by Together and Aldermore
Two more lenders are slashing their mortgage rates! Together Cuts Rates by Up to 25bps Together, a specialist lender, has reduced rates on its popular “Discounted Rate” mortgage products. This type of mortgage is a bit like a tracker, offering a discount on the lender’s standard homeowner managed rate for two years. Here’s the summary:…
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Second Charge Mortgages Rise to £145 Million in June
Homeowners are increasingly turning to second charge mortgages, with loans reaching £145 million in June, a significant jump of 7% compared to the same period last year. This surge in popularity is reflected in the number of new second charge agreements, which rose by 3% to 3,019 in June, according to the Finance & Leasing…
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Together Launches New Discounted Rate Tracker Deal
Good news for nervous homebuyers and remortgagers: Lender Together has launched a new tracker mortgage designed to help people navigate the current climate of high interest rates. The new two-year discounted rate tracker mortgage is available for first and second charge mortgages, covering a range of scenarios: With economists predicting that interest rates may start…
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Homeowners Turning to Second Mortgages in Record Numbers
Brits are increasingly taking out second mortgages, with new agreements hitting a 19-month high in May. But is this a worrying sign for the housing market? Good news for homeowners looking for extra cash – the number of people taking out second charge mortgages has reached its highest point in almost two years. But before…
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Blips on your Credit Report? New Mortgage Offers Could Help You
Norton Home Loans has launched two new mortgage deals designed to help borrowers with less-than-perfect credit histories get on the property ladder. The new ‘Optimal’ plans, available on both first and second charge mortgages, offer a lifeline for those who have had financial hiccups in the past. Even if you have a history of bad…
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Step One Finance Enhances Second Charge Mortgage Offering
There’s good news for homeowners looking to unlock some extra cash from their homes! Step One Finance has announced some changes to its second charge mortgages. What’s Changing? For residential properties: For buy-to-let properties: What does this mean for you? This is fantastic news if you’re a homeowner looking to: What did Step One Finance…
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Second Charge Mortgages Boom – Borrowers are Taking Out More Loans!
It seems Brits are feeling more confident about their finances, as the latest figures show a massive jump in second charge mortgages. Second Charge Mortgages: What Are They? A second charge mortgage is a bit like a second mortgage, but instead of your home being the main security, it’s a second security. This means that…