{"id":2124,"date":"2023-06-24T19:00:50","date_gmt":"2023-06-24T18:00:50","guid":{"rendered":"https:\/\/staffonly-it.co.uk\/sfc\/?page_id=2124"},"modified":"2024-01-03T17:49:59","modified_gmt":"2024-01-03T17:49:59","slug":"case-study-home-improvement-2nd-charge","status":"publish","type":"page","link":"https:\/\/staffonly-it.co.uk\/sfc\/case-study-home-improvement-2nd-charge\/","title":{"rendered":"Case Study Home Improvement 2nd charge"},"content":{"rendered":"

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CASE STUDY<\/p>\n<\/div>

Home Improvement 2nd Charge<\/h1><\/div><\/div><\/div><\/div><\/div>

They wanted to raise \u00a350,000 to extend their property.<\/h3><\/div>

Mr and Mrs Jones were 3 years into a 5 year fixed rate on their 1st charge. The early repayment charge was \u00a36748 to remortgage.<\/p>\n

Their mortgage advisor referred them to SFC Seconds who raised the full amount on a rate of 5.8% fixed for 2 years.<\/p>\n

The additional \u00a350,000 took the LTV just below 85%. Mr and Mrs Jones had recently missed a couple of credit card payments, but at the time of application were up to date and so were not penalised on rate. As the lender guaranteed the property value, no valuation was required.<\/p>\n

The introducing broker will be able to re-mortgage them in 2 years to clear the 2nd charge, likely at a lower rate due to the extension increasing the house value and therefore reducing the LTV.<\/p>\n<\/div>

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Whether the requirement of your client is for a second charge mortgage, bridging loan, residential mortgage, commercial finance, development finance or a buy-to-let mortgage, the Specialist Finance Centre team is here to support. Call us on 029 2021 8630<\/a>.<\/p>\n<\/div><\/div><\/div>

\"Row<\/a><\/span><\/div>
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Second Charge Mortgage Services<\/h4><\/div>
Learn More<\/span><\/a><\/div><\/div><\/div><\/div><\/div>

Your SFC Seconds Team<\/h2><\/div><\/div><\/div>

The way we do business is driven by our people \u2013 from our specialist mortgage advisors to our business development managers. Find out more about who we are here.<\/p>\n<\/div><\/div><\/div>

Meet the SFC Team<\/span><\/a><\/div><\/div><\/div>