Benefits of Second Charge Bridging Loan

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Updated: 10 April 2019

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Title: Benefits of Second Charge Bridging Loan

1
Benefits of Second Charge Bridging Loans
2
What is Second Charge Bridging Loan ?.

Second charge Bridging loan is a short term
lending, secured against a property which
already has a outstanding mortgage.
A second charge bridging loan would enable one to
raise funds for renovation or extension to ones
property.
Once the works are complete, a refinance will
move the debt to a lower interest rate.

3
When is the Second Charge Bridging Loans
Beneficial
4
1. If you are on a Low Interest Rate.

A Second charge bridging loan would allow for
more flexible repayment options, which would save
few extra pounds.

5
2. In case you have opted for a fixed rate with
early repayment charges

In case you are looking for an early exit from
your existing bridging loan. A second charge
bridging loan will save you the penalty, as
penalty will not be imposed, due to existing
mortgages.

6
3. Incase youre unable to secure regular funds
from your mainstream funding institutions.

Lending norms have become stricter. Lenders are
thoroughly investigating before approving the
loan. So a second charge bridging loan will be
easier to secure, as it will on the existing
mortgages.

7
How much can you Borrow

In case of second charge bridging loans, a
maximum of 70 loan to value ratio is available.
The actual amount will depend on the available
equity in the property and the availability of
the loan amount.

8
How Can Finanta Help you ?

Our Specialist will provide you a simple, fast
and short term funding solution for your cash
flow requirements.
Instant decision in principle with in 24 hours
and release the funds within 5-7 business days.

9
Contact us