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Benefits of Second Charge Bridging Loan

Second charge Bridging loan is a short term lending, secured against a property which already has a outstanding mortgage.<br>

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Benefits of Second Charge Bridging Loan

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  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 you’re 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 • 86-90 Paul Street, London, EC2A 4NE • 02037807610 • info@finanta.co.uk • Monday – Friday : 9.00am – 5.30pmSaturday & Sunday : Closed

  10. Some Useful Links • How can I get a Bridging Loan • Bridging Loans Company in UK • Bridging Loans Company in London • Finanta – Bridging Loans Company in UK • Online Bridging Loans Calculator • Bridging Loans- Explained

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