Welcome to Sky Financial Services. We do Commercial & Development Finance, Properties & Mortgages Abroad, non – regulated Buy-to-Let Mortgages & Bridging Finance.
  • From £3000 to £100,000
  • Terms 3 yrs to 25 yrs
  • LTV based upon each deal
  • Residential properties only
  • Adverse & CCJs considered
  • Anywhere in the U.K. (mainland only)

Secured loans are an established part of the mortgage lending market and they can provide a useful source of additional finance. The security for second charge loans is the borrower’s existing property, and the loan is made in addition to the first charge mortgage loan with which the borrower purchased or remortgaged the property.
Typically, a second charge loan can be considered more suitable than raising money by remortgaging if one or more of the following circumstances apply:-

  • The borrower is subject to relatively onerous early redemption charges on their existing mortgage loan.
  • The borrower has an attractive fixed rate on their existing loan that they do not wish to sacrifice.
  • The borrower has acquired some adverse credit history since taking out their main mortgage and is unable to find a remortgage deal. Alternatively, if such a deal can be found, it may be a cheaper option to borrow the additional sum as a second charge loan than to remortgage to raise the whole amount.
  • The borrower wants to keep the new loan separate from their main mortgage.
  • The borrower wants to pay off the second charge loan much sooner than the main mortgage.
  • The borrower wants to receive the advance sooner than a standard remortgage could deliver it.

Second charge secured loans can be used for many purposes including:-

  • Paying for a wedding
  • Paying school/university fees
  • Buying a new car
  • Taking the holiday of a lifetime
  • New kitchen/ bathroom
  • Debt consolidation
  • Most other legal purposes
  • Building an extension to the borrower’s residential property



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