According to recent studies, existing homeowners are moving less frequently than they used to – changing every 20 years, compared to the traditional 7 - 9 years. With the cost of moving now more expensive than in the past, 48% of homeowners in the UK have plans to spend money on home improvements projects in the coming months – more than those heading away for a summer holiday.
So, how can you help your clients with funding for home improvement projects?
30% of Enterprise Second Charge mortgage completions last year were for home improvements.
Second Charge mortgages can prove an extremely useful option for raising funds, often ideal if:
|A remortgage or unsecured loans don’t suit your client||They want to avoid paying an Early Repayment Charge on an existing mortgage||The interest rate on their current mortgage is really low and they do not want to lose it by remortgaging|
Second Charge mortgage key features:
You may believe Second Charge mortgages are difficult to arrange - but with Enterprise it’s simple... With a two to four week completion average, we can quickly help your clients access a range of competitive lenders and see their application through from enquiry to completion.
Click here to explore how a customer used a Second Charge to raise £35k for home improvements in just 7 days.