At Liberty Financial we can refer you to a specialist broker for Second charge loans (Secured loans) and bridging finance. Please note – these services are referred to a third party. Neither Liberty Financial Services (UK) Limited or Advance Mortgage Funding Ltd are responsible for the advice received.
Sometimes there is a need to look at other specialist options rather than a straightforward mortgage. You may be locked in to a current product and don’t wish to pay any penalties or need to complete on a new purchase without your current sale completing. Liberty Financial are not responsible for any advice received from the specialist provider. Second charge loans are regulated by the Financial Conduct Authority.
Second Charge Loans
Are you looking to raise money to fund home improvement or another purpose? Liberty Financial can refer you to a specialist in this market. Assuming that you meet certain basic criteria, secured loans may be available to help fund your projects and other activities. A loan of this type involves offering one of your assets (typically your property) as security for the borrowing.
That gives the provider confidence that, should you be unable to repay the loan, they have a way of recovering their money by forcing the sale of your asset. Applying for second charge loans is reasonably straightforward but finding the correct product to suit your needs can prove more difficult. This is where Liberty Financial may be able to help. Contact Us to discuss your requirements.
A Bridging Loan is used to cover shortfalls between buying one property and selling another. A great example of when yuo might need a bridging loan would be if you’re in the process of buying a new home but are let down on the sale of your existing one. It is also commonly used when purchasing a property at auction.
A Bridging Loan is basically a very short term mortgage and like a mortgage, it’s a loan that is ‘secured’ against property. Bridging Loans may not be regulated by the Financial Conduct Authority. Bridging Loans can be used for reasons other than buying and selling property and some of these are detailed below:
Cashflow – when you need some cash urgently. Inland Revenue – for those unexpected payments. Business Capital Finance – when funds are required for a short period of time. Development Finance – for building residential and commercial units. Land Purchase – with and without planning permission. Overseas Property – for commercial, residential and holiday properties.
Looking for a Secured Loan?
For more information on a Secured Loan from Liberty Financial, Contact Us.