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.