SECOND CHARGE

Our Second Charge loans are a fast and flexible way for borrowers with sufficient equity in their properties to raise funds. Second charge, or secured loans, can be used to raise finance quickly for pretty much any purpose and are one of the most overlooked, and misunderstood, areas of finance.

2nd Charge Loans

  • Bridging Finance – Up to 65% LTV and a maximum loan value of £10m, with terms of up to 23 months and no early repayment charges.
  • Term Loans – Up to 65% LTV and a maximum loan value of £10m, with terms ranging from two years to five years.

Uses Include:

  • Property professionals looking to add to or even start building their Buy to Let portfolios.
  • Business owners who need to raise short-term finance for their businesses for a variety of reasons: to fund an investment, for example, a management buy-out or to pay a tax bill.
  • First-charge mortgage borrowers who need to raise funds against a property but who do not wish to rearrange the existing loan –  perhaps because there would be punitive early repayment charges to pay for doing so.
  • First-charge mortgage borrowers who need to raise funds against a property while keeping the first-charge mortgage secured on it because of the competitive terms previously secured on this funding.
  • Second-charge mortgage borrowers looking for the flexibility that TML is able to offer through facilities such as interest retention.
  • Borrowers who need speed and specialist lending skills. Our loans can be arranged in weeks rather than months and second-charge loans may also be suitable for borrowers unable to refinance their existing borrowing in the short term.