If you’re looking for buy to let, second charge loans, or bridging finance, you’ll have specialist requirements that set you apart from a standard residential purchaser.
Buy to let
Whether you’re an experienced landlord or just starting out, you’ll have specialist requirements that set you apart from a standard residential purchaser. We can access the major lenders in the buy to let market including those specialising in lending to professional landlords and consumer buy to let. We’ve also developed relationships with general insurers who’ve designed specialist landlords’ buildings and contents policies.
Second charge loans
Second charge loans can be secured against residential or buy to let properties. They are provided by specialist lenders and are generally short‑term loans secured against the property, but where the lender has second call on the property if the borrower defaults. Second charges tend to be more expensive than ‘firsts’. However, they can still be the best option for people seeking to raise capital ‑ but whose main lender is unwilling to provide further finance, or where expensive early redemption charges would be incurred. We act as a credit broker for secured loans.
If you are purchasing a property with the help of a shared equity loan, our advice will also cover the shared equity second charge. However, we do not advise on any other second charge mortgages. If you need a second charge mortgage we will refer you to a master broker for second charges, who will be able to advise you.
A bridging loan is taken out to ‘bridge’ the gap between the purchase of a new property and the sale of an existing one. Loans are generally short‑term and secured on the existing property, but repaid as soon as this is sold. ‘Bridges’ may help you secure your new property, but you should be aware that they can be expensive and if the sale of your existing property falls through, you will be left paying two loans at once.
If you wish to enjoy the benefits of a second home for your holiday and also let the property to generate income, we can help. Mortgage finance for Holiday Lets available based on using an average of the projected Low, Mid and High season weekly rental yields.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Some buy to let mortgages and some bridging finance are not regulated by the Financial Conduct Authority.
We can refer second charge loans and bridging finance through Enterprise Finance.