Intermediary Second Charge Archived Posts

Promise Money has secured loans available for people who have had credit issues in the past as well as those with clean credit histories

Earn an additional £300 bonus on your large loans

Here is an email template you can send to your business contacts to generate secured loan enquiries.

We get many calls asking if we can arrange a loan for someone with bad credit.

A broker mentioned to me yesterday that he had forgotten about our 125% LTV (adverse accepted) secured loans.

a version of our adverse credit update which can easily be forwarded to introducers.

I have been asked to circulate something to brokers regarding income specifically showing points they may be missing out on.

A broker mentioned that he had forgotten about our 125% LTV (adverse accepted) secured loans.

Here’s another new lender – 95% with mild adverse (99% on referral)

Here’s another new product which I think will interest you.

It’s fair to say that most loan enquiries come to us for the straight forward reasons we all know

Clients often get turned down for finance due to the income criteria of a particular lender.

Guarantor loans now available

Secured loan brokers constantly preach how a loan can provide a solution when a remortgage is declined.

Large loan update – better products to help leave the existing mortgage in place.

Over recent weeks a number of high LTV secured loans have come to the market

To start the year I am pleased to tell you we have a major product change

We have some improved Blemain terms to share with you. Given this is good news for all brokers,

This new product will be of benefit to clients with heavier adverse credit

Masthaven Secured Loans have extended their lending into Scotland today.

With tax bills looming, here is a reminder of some of the additional products which may help your clients.

NEW Secured Lender – High LTV – poor or bad credit accepted – rates from 8.9% – LTV’s up to 85%

For brokers helping their clients to capital raise, this simple guide may help identify where a secured loan may be an alternative to a remortgage.

it is clear that the secured loan market is proving more popular for clients raising large sums.

Are you too busy to offer secured loans on your remortgage declines?

Promise was fortunate to be one of the first Brokers to offer second charge loans from Masthaven when it launched towards the end of last year

Not only have we just completed Nemo’s largest ever loan

These homeowner loans are now live on the Promise sourcing portal – alongside the other 17 secured lenders.

It is widely believed that brokers, in particular those involved in mortgages and loans, are in the firing line

Its free, simple and easy to integrate. Here’s how it could work for you.

We are regularly asked by our brokers for short term bridging.

We are now up to 16 secured lenders – That’s double what you get on other sourcing systems

This is double the number of lenders offered by most loan sourcing portals

Promise has celebrated its 10th birthday

Paragon has today introduced new three year and five year fixed secured loans

Central have today unveiled a new criteria update which sees their interest rates drop once again

HMRC are currently being swamped by requests from self-employed individuals for SA302s to support mortgage applications.

After 30 years at Prestige Finance Simon Stern has now left onto pastures new

Last week saw some significant changes in the secured loan sector.

This morning Precise Mortgages has enhanced its secured loans offering

I predict that this year is going to see a massive increase in BTL secured loans

Equifinance, the specialist secured loan lender, has relaxed its criteria most notably to accept applications at 80% LTV

We have released some amendments to Nemo’s criteria this morning with secured loan rates reduced by up to 0.9%.

Last year I ran a series of roadshows for brokers and was surprised by how many still think of secured loans” as a last resort product.

It is common industry knowledge that Second Charges will harmonise with first mortgages in March

out of the blue, a nice tax bill comes through the post.

Sometimes a case study can help brokers more than an overview of the underwriting criteria.

If the above caught your attention it was intended to make a specific point – please read on.

Another useful product has hit the market which may prove useful to assist your clients in raising cash

Evolution have released a cracking new product for certain quirky / high LTV scenarios.

Blemain have today reduced their loan rates by up to 0.5%

Last night we were informed of further rate reductions to our Prime range of secured loans.

Recent lender changes are good news for brokers – particularly those working in Scotland.

If you deal with BTL landlords this could be a product you have been waiting for.

I think it’s fair to say many brokers approach secured loans with a degree of caution.

The rise of buy-to-let continues apace, despite a challenging few weeks for the sector.

How much of your day to day duties have become habit?

Many DA brokers face the same conundrum when it comes to secured loans.

As the industry braces itself for full regulation of secured loans I have noticed there seems to be three schools of thought emerging.

While I am sure it is every brokers dream to deal with only straightforward, prime clients

Those of you who regularly read my column will know I am of the belief that mortgage brokers should not fear second charges

Are you a ‘whole of market’ broker? If you are it’s no doubt a label you want to keep hold

We hope you have had a wonderful Christmas and New Year.

This product has been launched today – only through selected packagers.

This adverse loan from Spring Finance has been revamped

Since talk of EU legislation first began, many years ago, the impact it would have has been discussed exhaustively.

The second charge market as we know it has changed forever.

Sometimes, even with the very best intentions it’s possible to get things wrong.

Have you spoken to your Broker Sales Manager recently? (BSM).

Some great new criteria has arrived from Step One which I thought you might want to know about.

Following the recent EU referendum and Britain’s decision to leave the EU, rates have begun to be forced down.

Recent meetings held between Promise and AR / DA firms have highlighted that mortgage brokers who have embraced second charges

A good proportion of UK consumers will want to raise capital but talk themselves out of it

That seems to have been a key question for mortgage brokers in 2016

Here we post a series of articles showing how first charge, second charge, bridging or commercial mortgages

Leading master broker Promise Specialist Lending has completed XML integration with Shawbrook

What do you do when the first charge lender won’t consent to a second?

There’s been plenty of debate of late surrounding fees in the second charge market. And rightly so.

For the big financial purchases or restructures customers will often think remortgage and might contact their broker.

What’s the most important aspect of your business? Which area do you focus hardest on?

I have spoken many times about the need for mortgage brokers to embrace secured loans and accept them as a mainstream product.

Brokers applaud Punjabi and Urdu speaking secured loan team

2016 was always going to be a challenging year for seconds, was it harder than you expected?

Picture the scenario where your client wishes to capital raise but there is a second charge in place which they don’t want to clear.

Many of our brokers are now so busy with mortgage enquiries that they don’t have time to focus on their complex cases.

Where is this so called second charge boom? That seems to be the question on everyone’s lips right now. Why didn’t it happen?

We know that consumers generally don’t go to their mortgage broker when they want a loan. Instead they go online and apply to someone else.

Let’s start with the basics. Do you know what a second charge is? If not don’t worry, you’re not alone.

We talk quite a lot about how second charge can be the more cost effective solutions for a number of borrowers.

I’m sure that’s a question pretty much everyone in the country is asking themselves right now following last month’s politics news

After adapting to multiple new regulation regimes in recent years – not to mention dealing with a political elite who seem to be addicted to chaos and confusion

Are you motivated by pleasure or motivated by the avoidance of pain?

There’s a shared consensus in the second charge market that more needs to be done to promote the products on offer, both to mortgage brokers and to consumers.

If you’d asked me several years ago how I felt about skiing I’d have told you I was not a fan. This, however, would have been something of an untruth.

If I told you you could increase your income by doing something almost identical to what you’re doing now, that wouldn’t increase your hours and wouldn’t mean missing out

Is there space in the second charge market for more lenders?

Secured loans are already highly flexible and competitively priced but there are two other important drivers which will influence the growth of the second charge industry.

How much do you have to say something before people start to believe it’s the truth?

Awareness. It’s a word that has been bandied about a lot in recent years as the second charge market looked at ways to increase broker engagement.

The second charge market is at a pivotal point. Lending volumes may have been rising for some time now but only now

It’s not surprising that some brokers steer clear of second charge loans when there is so much conflicting information

West One has long been a key player in the bridging market and one which is popular with brokers and clients alike

If I asked the average broker if he or she gets many second charge enquiries the chances are the answer would be “no, not many, my clients don’t need second charges.”

Unfortunately it is also home to a group of businesses, some of which have encouraged consumers to produce fictitious complaints and claims on an industrial level.

According to reports PPI claims soared in the first half of 2017, hitting a three year high. At first glance this seems almost impossible.

Are you aware that we can get a 1% discount on commercial borrowing?

I have a promotion at the moment for your non standard cases. Let us package your cases for £99 and you still get a 0.35% proc fee

If you are looking for flexible lending, then please talk to us about our range of second charges.

My second charge case studies this week focus on affordability.

At the start of 2017 there were plenty of hopes that 2017 would be the year that we saw major progress in the second charge market.

When it comes to fees on second charges there are many opinions and probably as many options.

or some brokers credit repair is a dirty phrase that conjures up images of unreliable clients with shady credit histories that should be avoided at all cost.

Some of your self employed clients may be in for a nasty shock in the next week or so.

Thanks to MCD and the tireless work of those in the seconds industry in educating the sector awareness has increased and so too are lending figures.

So far this year we are seeing more large second charge loan enquiries.

Unsurprisingly, given the last few years in the mortgage market, ‘change’ is a word many brokers are somewhat wary of.

There has been a massive spike in HMO property investors over the last 12 months – the returns can be outstanding.

With more Brits living and working outside the UK there is an increase in enquiries for Ex Pat mortgages via our panel of specialist Ex Pat lenders.

Some brokers have asked for a second charge guide to help them place more complex loan and remortgage cases.

Loads of our brokers are looking for loans with low ERC’s and low lender fees.

This has just come in. Please take a moment to read this.

We want to make sure you know about the massive rate drops on Together’s BTL second charges.

Though it’s not the most pleasant thing to acknowledge, as a magazine contributor, it’s certainly the case that a large majority of people will only read the headline of a news story or article.

Recent research conducted by Legal and General Mortgage Club has revealed that over 80% of brokers will look to diversify their business models and income streams

Just for a change, rather than tell you about the niche products we offer, here are some more straight forward examples of large recent second charge cases.

If you need a positive shot in the arm here’s some of the more positive news which is circulating.

West One has revamped their second charge product range with lower rates, higher LTV’s and more flexibility.

We are seeking opinions on how useful this new product would be to your clients and plan to release it first to Promise’s registered brokers.

Just a quick heads up on how some lenders are dealing with GDPR.

Just a quick update on a new lender to offer high LTV secured loans – Optimum – 95% LTV.

We are writing to our Scottish brokers with details of a new lender.

Just a quick note for a Friday afternoon – probably Monday by the time you read this.

Now that the General Data Protection Regulation (GDPR) has finally come into effect

Just a quick update on the second charge front

We have a fantastic new product which we really think you need to know about.

If you are going on holiday soon, do you have any second charge cases you want me to look at for you now?

Accord to research by SimplyBiz Mortgages, only 15% of mortgage broker are not involved in the second charge market at all.

There has been an update on our high LTV second charge plans.

It’s been a key question in the mortgage industry since MCD was introduced

We live in uncertain times. None of us have any idea how Brexit will pan out, if at all.

One of our most flexible second charge lenders has just reduced its rates by up to 2% and introduced a range of new features.

Further to our blog post yesterday, we have an important rate reduction for you.

After a quiet summer, second charge lenders are making improvements.

A new complex first charge mortgage lender has just launched in Scotland which we thought you may find useful.

As promised, here is a criteria overview for another of our specialist lenders which has now launched in Scotland.

there’s a lot happening with second charges to tell you.

Reduced rates for those quirky / complex purchases and remortgages – see below.

We know we’ve bombarded you recently with good news about second charges.

We don’t want you to forget us – or those little second charge niches which can sometimes be so useful.

Here’s a summary of October’s positive changes in the second charge market.

We have made some significant changes to our second charge range and introduced a NEW lowest rate on the market with some other great features.

Take a look at this new product for your self employed / business clients who want a commercial mortgage

We want to make sure you didn’t miss the cheapest second charge we launched last week?

At present the mortgage market stands at something of a generational divide and it’s one that could have considerable implications for the second charge market.

If capital raising with a high LTV remortgage is tricky, see how high LTV second charges might help people now

One of the biggest misconceptions I hear when speaking to brokers is that offering seconds is too much hassle.

Together Money, one of the UK’s leading specialist lenders has introduced preferential rates for selected partners which coincide with the founding business turning 45 years old.