refinance second charge

Refinancing Existing Second Charge

14 / 08 / 22

Location: Upper Siddington, Gloucestershire
Date: July 2022
Property type: detached grade-II listed residence
Gross loan: £630,000

Our borrower had a loan secured by way of a second charge on his main residence which was originally taken out for business purposes. This facility was due for redemption so he needed a lender to complete a refinance and take a new second charge on his property.

Due to the unique character of the property, a lot of specialist research and underwriting were required which was done promptly to complete within the borrower’s proposed timescale.

Given our flexible approach to bridging finance, we were able to offer a 70% on a second charge which is market-leading, and even rarer when a property of this nature and value is involved.

The borrower was able to refinance his existing second charge and inject some funds into his business operations. This was the third case he has completed with us, demonstrating the fact that if you offer a top service and great products, customers will keep returning.

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