INSETSshorter8

SECOND CHARGE LENDER PANEL

If you are Directly Authorised or an Appointed Representative of a Network other than our own, you can access and receive 100% of the commission for all packaged products shown in the table below. If you would like to access any other product for your client, we may be able to assist you on an introduced basis.

LenderPackagedProduct GuideCommissionNotes
Yes VIEW 1% Max LTV: 80% ~~ None
YesVIEW1.25%Max LTV: 75% ~~ Loan size: £5K - £150K ~~ Min property value: Refer ~~ Max properties in portfolio: No Limit ~~ Min income: No restriction ~~ Min and max age: 25 - 80
YesVIEW1%Max LTV: 75% ~~ Enhanced commission up to 1.5% available on certain products.
YesNot Available1%Max LTV: 75% ~~ Reduced 0.75% commission for standard and prime products - 5% commission on product three.
ResidentialYesVIEW1.25%Max LTV: 75% ~~ Reduced 1% commission for loans over £50K products.
Buy-to-letYesVIEW1.25%Max LTV: 75% ~~ Reduced 1% commission for loans over £100K.

Second charge loans are often referred to as second mortgages because they have secondary priority behind a main (or first charge) mortgage. They are often used as a way to raise further money against the equity in a property when it is not possible or preferable to increase the first mortgage. We can help you access second charge loan options on residential, buy to let and a commercial properties and they can be arranged on a long term basis e.g. 25 years or on a short term ‘bridge’ basis of say up to 12 months.

coinsCRITERIA HIGHLIGHTS

  • Market leading rates
  • Up to 95% LTV on Residential, 75% LTV on Buy to Let
  • Loans from £3,000
  • Interest only options
  • Adverse credit options
  • Lending in England, Wales and Scotland

AREAS WHERE WE CAN HELP

  • Capital raising on buy to let properties to finance the deposit for a new property purchase.
  • Your client’s main mortgage is on interest only and they do not want to remortgage on to repayment.
  • Your client wants to avoid paying early repayment charges by remortgaging.
  • Your client does not want to lose the favourable interest rate on their existing mortgage.
  • Your client requires finance faster than can be achieved through a standard remortgage.
  • Your client wants to borrow beyond retirement age.
  • Your client has acquired some adverse credit since taking out the main mortgage and is unable to find suitable remortgage deal.
  • Your client wants to keep the new loan separate from their main mortgage.
  • Your client circumstances may have changed since taking out their original mortgage and they require a lender that has more flexible criteria.

HOW TO WORK WITH US

Option 1 – Use our Packaging Service

If you have the appropriate regulatory permissions we can help you access a vast range of mortgage products from lenders who are on our packaging panel.

  • You will retain the relationship with your client and be responsible for any advice.
  • Connect’s in-house administration team will process the mortgage application on your behalf.
  • On completion you will be paid 100% of the lender’s procuration fee.

Option 2 – Use our Referral Service

As our name suggests Intermediaries are at the heart of what we do and we work closely with all our lenders to try and find the best possible solution for your client. If you do not have the required permissions or would prefer for us to manage the entire process then our Referral Service is the right option for you.

  • Our adviser will happily discuss your clients requirements with you and let you know whether we can help.
  • Simply pass your client’s details on to the adviser, who will deal with them directly and be responsible for the advice.
  • The adviser will source the whole of market to try and find your client the best mortgage to match their requirements.
  • Connect’s in-house administration team will then process the mortgage application and support your client throughout the entire mortgage process right up to completion.
  • You will then be paid a great share of the case commission.

CONTACT US

Laurence

Contact our dedicated Second Charge team today on:

01708 676123

Submit an enquiry