How brokers use seconds – Affordability

How brokers use seconds

My second charge case studies this week focus on affordability.
Take a look – they may help you spot a potential case which otherwise might be dying.

Income multiples ignored – no LTI caps
The second charge income and affordability assessments can support far larger advances when capital raising.
If income multiples don’t fit for a remortgage please ask me to check our second charge lenders.

Recent job changes – probation isn’t a problem.
Some second charge lenders tend to take a more relaxed view, especially if the previous job was in the same sector.

Contract workers – even with some arrears and CCJ’s
If it’s a short term / recent contract, how long have they worked in that sector?
If the stability is there, even if there are other problems in the background, please speak to me.

Recently self employed – less than 12 months
Whilst Shawbrook has withdrawn its 6 months self employed product there are still lenders available.
Some will work on an accountants projection from the first 6 months with low ERC’s so you can refinance.
Poor credit is also accepted so not the cheapest but a potential option for a few years until they can return to mainstream borrowing.

If you have a case where you think the loan is affordable but a lenders policy decision stops you getting a mortgage, please give me a quick call.
I may have a second charge option which your client finds suitable – a loan via you has got to be better than them going to a competitor via Google.

If there are other problems (credit history, property construction, etc) please still give me a try – our lenders are great at solving multiple problems.

www.promisemoney.co.uk

01902 585052