A second charge can manage affordability limits when consolidating debt

December 20, 2016

Restructuring unsecured debt can reduce monthly outgoings hugely...

... but to do so with a first charge mortgage, clients often run into conventional income multiple limits on affordability.

Second charge lenders will start at 6 times income, by taking into account the positive impact on reduced outgoings after debt consolidation.

This can make the client’s net debt costs more affordable on a monthly basis - the high street normally won't do this.

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Enterprise Finance Ltd is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 302964.
Certain types of loans are not regulated, for example loans for business purposes or certain buy-to-lets.

Enterprise Finance Ltd is registered with the Information Commissioners Office. Registration Number: Z6765361

Enterprise Finance Ltd is registered in England and Wales. Company Number: 04440152.
Registered Office Address: 3rd Floor, Premiere House, Elstree Way, Borehamwood, Hertfordshire. WD6 1JH.

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A second charge can manage affordability limits when consolidating debt