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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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If you’re looking for a buy to let mortgage, second charge loan or bridging finance, you’ll have specialist requirements that set you apart from a standard residential purchaser.
Buy to Let
Whether you’re an experienced landlord or just starting out, your requirements will be different from those of a standard residential homebuyer. We have access to the major lenders in the buy to let market, including those which specialise in lending to professional landlords and consumers. Over the years, we have also developed relationships with general insurers, who have designed specialist landlords’ buildings and contents policies.
Second charge loans
Second charge loans are provided by specialist lenders and are generally short- term loans that can be secured against the residential or buy to let properties. The difference between second charge loans and standard mortgages is that the lender has second call on the property if the borrower defaults. Second charges tend to be more expensive than ‘firsts’. However, they may still be the best option for people seeking to raise capital in cases where their main lender is unwilling to provide further nance, or where expensive early redemption charges would be incurred. If you are purchasing a property with the help of a shared equity loan, our advice will also cover the shared equity second charge. However, we do not advise on any other second charge mortgages. If you need a second charge mortgage we will refer you to a master broker for second charges, who will be able to advise you.
A bridging loan is taken out to ‘bridge’ the gap between the purchase of a new property and the sale of an existing one. Loans are generally short term and secured against the existing property, but are repaid as soon as this is sold. ‘Bridging’ loans may help you to secure your new property, but you should be aware that they can be expensive and if the sale of your existing property falls through, you could be left paying two loans at once.
Some buy to let and some bridging loans are not regulated by the Financial Conduct Authority.
If you need a second charge mortgage we will refer you to a master broker for second charges, who will be able to advise you.
We do not advise on second charge mortgages. If you need a second charge mortgage a master broker for second charges who will be able to advise you.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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