Secured Loans – Complete FS

OCTOBER 2023 – Have you seen our Secured Loan Second Charge proposal?

We NOW pay you 100% of the lender Proc Fee

Everybody seems to be talking about Second Charge Loans right now. Clients on competitive mortgage rates who want to raise capital, understandably don’t want to lose a low rate by remortgaging, a Second Charge could be the answer.

We also run a referral service so if you are not able to give advice yourself we can help with that too!

Why a Second Charge mortgage could be right for your client:

Your client’s current mortgage has Early Repayment Charges (ERC’s)
The current first charge mortgage is on a competitive rate which they wish to retain
Your client has minimal equity for a remortgage
Affordability could work out more on a secured loan versus a remortgage (interest only on the first charge)
Your client has a complex credit profile which would make a remortgage more expensive
The purpose of the loan may not be acceptable to first-charge lenders

Benefits of a Second Charge mortgage:

Loans available up to 100% LTV
Most legal purposes accepted as the purpose of the loan
Arrears considered on many plans
Quicker Completion time
Clients can borrow between 5-30 yrs
Can be more flexible criteria
Advances from £10,000 – NO UPPER LIMIT (on referral)
Low ERC’s – 0 to 2 months generally
Available to Ex-pats

Complete FS Ltd offers a fully transparent fee structure as below.

Second Charge Fee Structure
2% Master Broker fee on completion (£500 minimum, £2,000 maximum)
£199 Application Fee
Disbursement Fee - £100 (covers lenders reference & land reg search)
Valuation Fee - if applicable (some lenders use drive by or desktop valuations)
PROC FEE 100% of lender proc fee typically 2%