The security for a second charge mortgage is the borrower’s existing home or investment property, and the loan is made in addition to the first charge mortgage. Second charge mortgages are an established part of the mortgage lending market and they can provide additional funds for clients looking to raise capital for a wide variety of purposes. Second charge mortgages for both residential and buy
to let properties, we can offer you peace of mind that the solution we provide will offer the best of what’s available through our diverse lender panel. Our comprehensive lender panel covers both prime and non-conforming lending solutions, and some market-leading exclusive products. Types of mortgage covered within this division. Capital raising secured on residential and buy to let properties, by way of second charge. Residential properties overview:
Market-leading rates. Lending in England, Scotland, Wales, and Northern Ireland. Buy to let properties overview:
Market-leading rates.
£10m (more by referral). Interest-only options. Typical scenarios. Wants to raise capital on BTL properties/across portfolios, without the time constraints of a re-mortgage. Wishes to avoid the ERCs that a re-mortgage would incur. Looking to raise capital but want to retain your existing low rate. Have acquired some adverse credit history since taking out their main mortgage and is unable to find a re-mortgage deal. Want to keep the new mortgage separate from the main mortgage. Raising a deposit for onward property purchases. Raising funds for business investment. Home improvements. Home improvements to main residence, while living at a separate address. Debt consolidation. Weddings. School/university fees. Holiday home purchase. Luxury purchases. Tax bills. Transfer of equity. Want to pay off the second charge mortgage much sooner than the main mortgage. Wish to receive the advance sooner than a standard remortgage could deliver. Have an interest-only main mortgage and wish to retain it. Wish to borrow beyond normal retirement age. Do not want to pay any upfront fees. Think carefully before securing other debts against your home. Your mortgage is secured on your home, which you could lose if you do not keep up your mortgage repayments. Active mortgage is a trading name of Active Brokers Limited which is authorised and regulated by the financial conduct authority. Registered in England & Wales under company no: 06539910. Address: 4 The Capricorn Centre, Cranes Farm Rd, Basildon SS14 3JJ. Paul Harrhy
Bridging, Development & Specialist Lending
07973 510 498 [email protected]
Providing you with a versatile, flexible, and innovative form of finance. What is short term lending? Short term lending, also known as bridging finance, is a short term loan secured against property or land and is used to ‘bridge’ the gap, until longer term finance can be arranged or the underlying security is sold. The key to the success of short-term lending is to ensure that a viable exit strategy is firmly in place upon application. Types of finance covered in this division. First and second charge loans on any type of property including:
Residential. Commercial. Semi commercial. Land (with/without planning permission). Criteria overview:
Market-leading rates. Up to 100% LTV available (subject to additional security). Light and heavy refurbishment projects. No exit fees (in most cases). Interest can be retained, rolled, serviced or a combination of these options. Funds available in staged payments (where appropriate). Lending available to individuals, LLPs, or Limited companies. Terms from 1-24 months*. * FCA regulated loans are subject to a max term of 12 months
Loans from £30k to £50m. Auction funding available. Lease extensions funded. Need to complete on a purchase before their existing property has been sold. Auction terms with short completion deadlines. Purchasing a property under market value and a quick completion is required. Want to downsize and release equity in their property to allow them to complete the new property purchase prior to the sale of their existing property. Wish to release equity from a property or land for cash flow purposes on a short-term basis, (e.g. tax bill, divorce settlement or business use). Want to purchase a property to refurbish and it is deemed unsuitable for mortgage purposes with mainstream lenders, (e.g. no kitchen or bathroom). You should only proceed with a bridging loan if you fully understand and accept any associated risks and the potential consequences, including the risk of the failure of your Exit Strategy, or that may otherwise result in your inability to repay the loan when it becomes due. Paul Harrhy
Bridging, Development & Specialist Lending
07973 510 498 [email protected]
Experts at finding the right type of development finance for you. The majority of development finance will be used on new house and apartment projects, but it can also include commercial units, mixed-use transactions (e.g., a retail unit on the ground floor of a building with apartments being developed above) and larger scale conversions, (e.g., an office building being converted to apartments). The current market in development finance is growing strongly and the scope of our lender panel is such that we can consider first-time developers, development locations throughout the country, high-end single units, or large multi-unit schemes. Types of finance covered. The development finance sector has moved on a great deal and funding is now available from mainstream banks, merchant and investment banks, private lenders, and specialist investment funds. Each of the lenders will have their own credit assessment criteria and we use our knowledge and market experience to match the client’s requirement to the best loan product available. This could be by way of a single stand-alone facility, a traditional senior loan in conjunction with a subordinated/mezzanine facility or a stretched senior loan offering a higher loan to cost ratio. Overview:
First and second charge loans are available on residential, commercial, and mixed-use development projects. Market-leading rates. Loans from £100k with no upper limit. Up to 90% loan to cost (100% funding in certain circumstances). Development locations throughout the country. High-end single units or large multi-unit schemes. Products for first-time developers. Typical client scenarios:
Experienced developers looking for new or alternative funding arrangements. First-time or one-off developers looking to secure the best possible finance. Property investors looking to add value to their portfolio by developing properties. Paul Harrhy
Bridging, Development & Specialist Lending
07973 510 498 [email protected]
Helping you bring in additional income. Our comprehensive lender panel covers the full spectrum, from high street to challenger and specialist lenders, including those that are not available on a direct-to-broker basis. What is commercial finance? Commercial finance covers a broad spectrum of lending areas including:
Owner occupied/trading businesses looking to purchase or refinance their own premises. Commercial investment loans covering properties that are being purchased for rental return and capital gain. Residential investment loans covering properties that are being purchased for rental return and capital gain. Overview:
Market-leading rates. Up to 100% LTV (with additional security). Loans from £50k with no upper limit. Fixed and variable rates. Is classed as an ‘unusual borrower’, such as Ltd companies, LLPs, pension funds, charities, and trusts. Is renting their business premises and the monthly mortgage payment works out to be less than the rent. Wishes to borrow on an interest-only basis. Is struggling to finance their buy-to-let portfolio or block of apartments with traditional buy-to-let lenders. Types of finance covered within this division. Multiple units/apartment blocks (under one title). Single freehold units. Flats above commercial premises. Retail units, industrial units, and warehouses. Single offices/office blocks. Forecourts, petrol stations and car washes. Public houses, restaurants, hotels, and guest houses. Care/nursing homes, child day care nurseries. Holiday and caravan parks. Address: 4 The Capricorn Centre, Cranes Farm Rd, Basildon SS14 3JJ
Paul Harrhy
Bridging, Development & Specialist Lending
07973 510 498 [email protected]
07/01/2023
