Welcome to Thinking Outside the Blog

An A-Z of Second Charge Loans


James Briggs – Specialist Distribution Manager

Published 04.07.2019

As the UK’s leading specialist lender1, we’re always thinking of ways to help you secure the Second Charge Loan your customer wants. Here’s a handy A-Z guide of how we can help.


A is for… alternative

If your customer is looking for an alternative to a remortgage or wants to avoid the early repayment charges a remortgage could incur, a Second Charge Loan could be the ideal solution.

B is for… broker panel.

Our choice of submission routes allows you to place a case with us directly or with one of our approved Master Brokers if you need a little more assistance.

C is for… customers.

Our Residential Second Charge Loans are available to customers aged up to the age of 75 at the end of the mortgage term.

D is for… debt consolidation.

A Second Charge Loan could be the solution if your customer is looking to consolidate a number of existing debts into one manageable payment.

E is for… early repayment charges.

Customers don’t have to pay an early repayment charge if they decide to repay all or part of their Residential Second Charge Loan early.

F is for… finance purpose.

Our Second Charge Loans are available for any purpose, including business use, property investment and tax bills.

G is for… guides.

Our product and criteria guides give you the information you need to help you place your cases with confidence.

H is for… home improvements.

A Second Charge Loan enables homeowners to release equity in their properties and could help finance projects such as building an extension, redecorating or giving their garden a makeover.

I is for… intermediary support.

Our team of expert underwriters is here to support you in placing your case every step of the way.

J is for… joint ownership.

We take individual tax circumstances into account meaning Tenants in Common customers could achieve the loan size they want.

K is for… knowledge.

Our regular emails, social media posts, articles in the trade press and weekly blogs make sure you’re armed with the knowledge you need to place more of your customers’ cases.

L is for… large loans.

Customers can borrow up to £500,000 on our Residential Second Charge Loans.

M is for… minimum property value.

Our minimum property value is £50,000 (£150,000 in Greater London). There is no maximum property value.

N is for… near prime range.

Our near prime range of products could be suitable for customers with less than perfect credit profiles, including secured and unsecured arrears, CCJs and defaults.

O is for… online criteria guide.

Our easy-to-use fully searchable A-Z guide means you’ve got the key information you need to know at your fingertips, whether you’re viewing it on your mobile, tablet, laptop or desktop.

P is for… products.

Choose from our range of 2 year Bank of England Base Rate Tracker, 2 or 5 year Fixed rate products.

Q is for… quality.

We’re dedicated to providing customers and brokers with quality products and a quality service.

R is for… Residential Second Charge Loans.

Customers can borrow up to 85% LTV on our Residential Second Charge Loans, ideal for those home improvements.

S is for… submission.

Submitting is easy, simply use our Online Portal which is available 24/7 with applications looked at the same day2.

T is for… top slicing.

Earned income can now be used to demonstrate affordability which means customers may now be able to borrow more with a Second Charge Loan than with a remortgage.

U is for… underwriting.

Our friendly and experienced underwriting team is on-hand to help your customer get the product they want as quickly and easily as possible.

V is for… valuation models (AVMs).

We use AVMs where possible (for loan amounts up to £200,000) to reduce costs and speed up valuations.

W is for… winning awards.

We’re delighted our range of Second Charge Loan products saw us crowned Secured Loan Lender of the Year at the Specialist Finance Introducer Awards.

X is for… e(x)cellent turnaround times.

Funds can be made available faster than a traditional remortgage.

Y is for… years.

Terms of between three and 35 years available.

Z is for… zero hours.

We now accept zero hour contracts on secondary applicants.

1 BVA BDRC Project Mercury report Q1 2019
2 Information correct as at Thursday 4th July 2019


For intermediary use only
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