Second charge as an alternative to a remortgage. 

Remortgages are extremely popular at the moment, as the availability of all-time low-interest rates continues. As more homeowners become aware of this availability, an increasing number are seeking to secure their financial futures by opting for a 5 year fixed rate option. 

But what if a remortgage is not available to you? Perhaps you are locked into a deal that could mean paying significant early repayment charges. You may be working for yourself and finding it a challenge to obtain a personal loan, or perhaps your credit rating has altered, limiting the mortgages you can apply for. 

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If it’s capital you are seeking a raise, a possible alternative may be a second charge mortgage.

There are cases where sourcing a second charge, and combining that with your existing mortgage, offers a more affordable rate than a first charge remortgage. It all depends on your particular circumstances, however, before you do anything, it is vitally important to seek professional advice from Deal Direct. 

Deal Direct is a 'whole of market' broker, allowing you access to a wide choice of lenders from all across the UK. We can offer a full review of your finances before advising you on the most suitable mortgage options available from among those lenders. We are regulated by the FCA, as well as being independent, so you can be sure that we only ever act in your best interests. 

For sound remortgage advice, call 0800 048 8828 today.

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Article published: Friday, March 24, 2017
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