How to spot opportunities with regulated Second Charge mortgages

When a remortgage or an unsecured loan simply doesn't meet your client's needs - could a Second Charge mortgage be appropriate?

You already know under MCOB rules, even if you don’t have Second Charge permissions, you must as an absolute minimum – tell clients that the option exists and that it may be better for them.

So, when can you spot scenarios for Second Charge mortgages and for which clients?

Common situations:

Debt consolidation
Home improvements
Second property deposits
Business injection

Typical clients:

Both prime and subprime
Self-employed
'Stuck' in their first charge
Need to avoid paying an ERC, or forfeiting low-interest rates on an existing mortgage

Think they’re difficult to place? Here’s our advice on overcoming the 6 major challenges with placing Second Charge mortgages.

With rates from 3.65%, LTV up to 95% and lending criteria up to £2m – Second Charges can be used for various reasons and clients.

How second charges create opportunities for forward-thinking clients

FAQs

Over 20 years of experience

Why choose Aria?

With over 20 years of experience in bridging finance and the specialist distribution industry, our expert team works on your behalf to provide access to market-leading rates with rapid loan completion as standard. We offer one point of contact from enquiry through to completion, always aiming to make the process as smooth as possible.