Loan: Second Charge Mortgage
Amount: £25,000
Monthly Repayment Cost: £375
Completion: 6 days from application

As a useful source of short-term capital, bridging loans are well known for offering a fast, temporary and interest-only funding solution. But everything else - such as when you’d use one, who bridging would suit, or how it works – is a little less clear.

Loan: Complex BTL
Amount: £580,500
Rate Offered: 4.88% Fixed for 5 Years, 10-year term on Interest Only (reversion rate after 5 years 3.84%+ LIBOR)
Monthly Repayment Cost: £2,384.31pcm
Completion: 12-week turnaround

We have recently been hosting a series of webinars on Second Charge Mortgages and how to arrange them. To get a real understanding of how we could help, we decided to ask our attendees what their biggest challenges actually were with placing second charge mortgages.

These were the six most common challenges we identified:

Bridging lending increased during the last six months of 2016, and with more lenders moving into the market Harry Landy, Sales Director of Enterprise Finance explains how the loans work and how they can help your clients.