Together have seen an increase in demand for second charge loans to purchase second homes, overseas holiday homes, and funds for significant property refurbishment.
How can Together support with your large second charge loans?
In response to this growing demand, I am pleased to share with you our criteria for large second charge loans:
- Loans from £250,001 – £500,000 – up to 60% LTV
- Loans above £500,001 – up to 50% LTV
The above criteria applies to our Prime Plus and Prime products, and cases need to be referred via MBV for consideration. We can consider slightly higher LTV’s to above for strong profile cases.
Why work with Together for your large second charge loans?
Interest only is available providing there is no unsecured debt consolidation and subject to plausible exit
- Affordability is assessed on an interest only basis
No Loan to Income multiple restrictions
- Customer stated affordability considered should the automated affordability fail
Flexible self-employed policy
- Minimum 12 months trading accepted, and we do not take an average of the last 2 years income figures
- Retained profits can be considered on referral
No minimum earned income requirements, no restrictions on probation periods, and we can accept multiple income types and sources, including:
- Pensions
- Benefits
- Rental income
- Dividends
- Consistent monthly bonus, overtime and commission
Flat arrangement fee of £1,495 and No Lender legal fees