With festive cheer enveloping the world of finance, Positive Lending is looking forward to 2017 and also back at the year gone-by. As a specialist packager, this year has brought many changes to our sector, the most significant being MCD. Having adapted our business to meet the new regulation, and to best support you and your clients, we are in a strong position to continue to deliver market-leading specialist loan products and service into the New Year.
In November second charge mortgage rates dropped to an all-time low of 3.85%; this product has a very limited distribution but is available to you via Positive Lending. At this level of pricing, second charge mortgages continue to be an excellent alternative for clients who are looking to raise capital or consolidate.
With loans available for any legal purpose, we are receiving enquiries regularly to raise funds for home improvements, business purposes, to help pay a tax bill or to raise a deposit for an additional property purchase as well as other uses.
A good client looking to raise £50,000 will have access, through Positive Lending, to three loan plans with rates of under 4.00% and a further 12 plans with rates under 4.50%. This means that a low rate second charge mortgage is an achievable solution for many clients.
At Positive Lending we take pride in finding a good solution for clients who are either unable to raise what they require through more conventional means or those who will actually benefit from a better outcome by taking a second mortgage instead of changing their first mortgage product. Whether that is because they have a fantastic rate on their current product, they may be tied in for a period and want to avoid paying a large ERC or they may be on interest only and wish to keep it that way. There is generally a lot of flexibility in the second mortgage market. Our aim is to assist you to ensure your clients have access to the very best loan outcome available. A good customer outcome always make us jolly!
If you are unsure as to where and when a second charge mortgage may be a viable alternative, then please do get in touch with Positive Lending on 01202 850 830. Our Second Charge Mortgage experts will be more than happy to talk you through all the options for your clients so you can understand the benefits or alternative funding options.
With the new rates seen above and Positive Lending’s transparent fee structure, your clients could benefit from what is an ever-growing market.
On behalf of the team at Positive Lending, we wish you a very merry Christmas and a prosperous New Year. Our regional account managers will be available throughout 2017 to meet with you, at a time and place that suits you, to provide product training and discuss your specialist lending enquiries. We look forward to working with you in the New Year.