Second Charge Loan or Homeowner Loan

A Second Charge Loan is a loan secured against a residential or Buy To Let (BTL) property which sits behind the main mortgage, as a stand-alone product.

Second Charge Loans are available to homeowners for any legal purpose including:

  • Capital raising for business purposes
  • Debt consolidation
  • Home improvements
  • Tax bill clearance
  • Divorce
  • School Fees
  • Clearing off Debt management including Trust Deeds and IVAs

Second Charge Loans are now regulated by the Financial Conduct Authority, which means greter protection for the borrower.

The good news is that  Thistle has access to a wide range of lenders with Prime lenders for those with a fabulous main mortgage rate you don’t want to impact, or perhaps you need to find a rate because of credit issues or large amounts of outstanding debt? Then one of our  solutions could be the right fit.

We have rate starting well below most high street lenders standard rates, so why not give us a call to find out what is available to you. In most cases we are able to get the funding in a matter of weeks so you can get the right result nice and quickly.

Whether you’re looking for a loan to raise capital for home improvements or releasing equity to raise deposits for BTL property purchases, Thistle has the knowledge and expertise to deliver the right product for your clients.

If you would like to know more about Second Charge Loans or Homeowner Loans  and how we can help, call 0131 285 4778 to speak to one of our advisers or complete the form below and we will get in touch to chat over your options.

Thank you and we will be in touch

Residential Properties

Thistle’s lender panel incorporates market leading rates, loan amounts from £3k to £2.5m capital and Interest and Interest Only products with up to 95% LTV across the whole of the UK.

BTL Properties

Thistle’s lender panel incorporates market leading rates, loan amounts from £5k to £2.5m Capital and Interest and Interest Only products with up to 75% LTV across the whole of the UK.

Criteria At A Glance

  • Interest rates from 3.74%
  • Loans are available up to 95% LTV
  • Buy to let Second Charge Loans available up to 75%
  • Up to £2.5m standard lending criteria (more available by exception)
  • Fixed rate products and interest only available
  • Market-leading commission

Second Charge Loan Overview

Considerations for Second Charge borrowing:

  • Clients have an interest only mortgage or a low rate mortgage that they do not wish to lose
  • Paying a Tax liability – first charge products do not cater for paying HMRC
  • Clients have suffered from credit impairment and wish to consolidate their outstanding debt however cannot re-mortgage
  • Clients circumstances have changed e.g. new employment with lower rate of pay precludes them from a re-mortgage. Typically, Second Charge lending allows for greater income multiples
  • Clients wish to borrow beyond normal retirement age
  • Re-mortgage product would incur a high early repayment charge
  • Clients wish to capital raise against their BTL portfolio to fund deposits for further property purchases without the intricacies and time constraints of the re-mortgage process