One lender on our panel has offered something that the market has not seen before; they have moved away from the normal product matrix we have grown accustomed to and moved to a ‘price for risk’ approach offering some clients’ the most competitive rates ever. Some are cheaper than the remortgage alternative.
This product is available to residential homeowners only but is available for any legal purpose and should therefore be considered as an option for any clients wishing to raise additional capital against their home. It not only offers the potential of market leading rates, but can also offer speed of completion.
The icing on the cake is that there are options with no valuation required and this has enabled Brightstar to complete applications in as little as 3 days from receipt of the client’s completed paperwork.
Explore the scenarios where a second charge mortgage can be useful here
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