Tag: Second Charge Mortgage
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Increase in UK Bridging Loans Signals Robust Market Growth
The UK’s property market is seeing a rise in the demand for bridging loans, especially in the first quarter of 2024, with transactions totalling an impressive £196.2 million. This marks a modest but significant growth of 0.4% compared to the closing months of 2023. Such figures highlight the resilience and evolving nature of the bridging…
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Interbridge Mortgages Steps into UK Market
Interbridge Mortgages has officially entered the UK market, aiming to reshape the availability of second charge mortgages. This new lender will cater to homeowners in England, Scotland, and Wales, offering secured loans through a select group of specialist broker partners. The leadership at Interbridge Mortgages isn’t new to the finance game. The management team is…
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Keystone Introduces Further Advances for Landlord Product Transfers
Keystone Property Finance has made an update to its offerings by rolling out further advances for landlords who are transitioning through product transfers. This development is designed to streamline processes and enhance financial flexibility for property investors. Within Keystone’s PT Plus range, landlords now have the option to secure additional funding through further advances when…
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Unlocking Your Home’s Potential – How Second Charge Mortgages Can Work for You
Second charge mortgages offer homeowners an alternative way to borrow money by leveraging the equity in their homes, without altering their existing mortgage. Essentially, they operate alongside your primary mortgage and are based on the portion of your home that you own outright, rather than its total value. How It Works Imagine you own a…
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Tandem Bank’s Reduced Second Charge Mortgage Rates
Tandem Bank has cut the rates of its residential second charge mortgage products by up to 90 basis points (bps). This adjustment is not just minor tweaking; a reduction of up to 90bps can translate into significant savings for borrowers over the term of their mortgage. Special Incentives for Energy-Efficient Homes Encouraging Greener Living A…
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£1.6M Bridging Loan Boosts Prime Asset Value
Arc & Co. and Glenhawk have successfully secured a £1.6 million second charge bridging loan for a property developer. This significant deal centers around a highly valued single asset located in the affluent area of Wentworth. What is a Second Charge Bridging Loan? A bridging loan is a short-term loan used by property developers to…
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Reductions in Mortgage Rates by West One Loans
West One Loans has announced notable rate cuts across its residential mortgage products. The rate reductions are particularly striking for fixed-rate mortgages: Enhanced Options for Borrowers Earning High Incomes For applicants with higher income, looking to borrow more than five times their income, West One Loans has introduced the Prime Plus Flex and Prime Flex…
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Second Charge Mortgage Lending Dips in September
According to data from the Finance & Leasing Association (FLA), there has been a noticeable downturn in second charge lending: Underlying Reasons for the Decline Fiona Hoyle, the FLA’s director of consumer & mortgage finance and inclusion, attributes this decline to a combination of factors: Loan Purpose Breakdown Despite the overall decline, the distribution of…
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Unlocking Your Home’s Value for Refurbishment
In the midst of skyrocketing property prices and high moving costs, many homeowners are now leaning towards enhancing and expanding their current residences rather than diving into the tumultuous market to buy anew. If you’re one of the many pondering this route, you might be wondering how you can draw from the equity in your…
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Alternatives to Bridging Loans
Bridging loans have long been the go-to solution for many property professionals, there are other financing methods that could offer better benefits depending on your specific needs. Bridging loans, undeniably, have earned their place in the short-term lending market. They’re quick, flexible, and allow borrowers to leave their existing financial commitments untouched. This last point…