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If you’d like to enjoy a simplified second charge mortgage application that provides immediate access to the best mortgages and rates on the market, speak to Enterprise Finance today.
A Second Charge Mortgage is a loan secured against a property that offers a client an alternative way to release equity from a home.
Help your client access equity in their property with second charge mortgage guidance from Enterprise Finance.
We deliver access to the best loans on the market, a fast process and no upfront costs.
At Enterprise Finance, we find solutions for any type of borrower, providing advised and non-advised assistance for those who:
An ideal alternative to remortgaging or a further advance, second charge mortgages provide a fast, cost-effective means of secured borrowing.
Fully transparent and regulated in line with the FCA
Flexible terms and lending criteria
Speed of delivery
Competitive rates
*depending on mortgage type
A client has been declined by the high street lender and cannot access a further advance or remortgage if they:
The client may not wish to take a further advance or remortgage if their current mortgage is:
We pride ourselves on speed, expertise and efficiency of placing the most complex cases. Read some of our amazing case studies and examples of how even the most challenging situations the team have secured finance for our clients.
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Second Charge FAQs
A second charge mortgage is a secured loan against a client's property, that gives them access to the equity they hold in it. As such, it is only available to property owners. It’s called a ‘second charge’ mortgage simply because the primary mortgage on a property is referred to as the ‘first charge’ mortgage.
Second charge mortgages offer speed of completion when compared to remortgaging or a further advance. They allow a flexible approach to customer circumstances and offer more generous income multiples than other forms of finance too. Unsecured loans are typically capped at approximately £35,000, but second charge mortgages do not have these restrictions.
Any property-owning individual can apply for a second charge loan with Enterprise.
Where a second charge mortgage is used to buy property, the borrower can apply for:
The following properties can be used against an Enterprise Finance second charge loan:
There are many reasons you might consider a second charge mortgage for your client. These commonly include:
Enterprise Finance covers all up front costs associated with setting up a second charge mortgage secured against a residential property (including the valuation costs). The costs are only payable by the client if the loan completes. Clients do have the option to pay some or all costs upfront or add these to the loan amount, subject to affordability.
Our team of mortgage advisors is experienced in assessing loan applications, and therefore will let you know whether a loan application is likely to succeed before an application is even processed. This way we are able to manage expectations and save you and your client time and money.
When arranging a second charge mortgage on a BTL property, the client will pay for their own valuation.
Our experience means that in most cases we will be able to confirm almost straightaway whether your client’s application is likely to be successful.
From the initial enquiry to completion, our average turnaround time for a second charge mortgage is three to four weeks.
The repayment term can be anywhere from five to 30 years.
Both interest-only and repayment options may be available depending on the client’s circumstances.
Bridging loans are short-term interest-only loans commonly taken out by clients needing immediate access to funds. We work on your behalf to deliver access to market-leading rates, with rapid loan completion as standard.
View ServiceExperience lightning-fast development finance support from Enterprise Finance. We have the knowledge, experience and expertise to help you secure the funding needed to take advantage of a development opportunity.
View ServiceIdeal for clients with circumstances a little more out of the ordinary, we can help secure funding for a wide range of scenarios, and deliver a tailored solution.
View ServiceAccess to market-leading rates, with unique, tailored commercial mortgages through Enterprise Finance. We'll assess cases the high-street can't and manage your clients' applications from cradle to grave.
View ServiceIf you’d like to enjoy a simplified second charge mortgage application that provides immediate access to the best mortgages and rates on the market, speak to Enterprise Finance today.
This information is intended for professional intermediary use only and must not be distributed to potential customers.
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: The Edward Hyde Building, 38 Clarendon Road, Watford, WD17 1JW.
This information is intended for professional intermediary use only and must not be distributed to potential customers