Exeter Finance offers a non-regulated second charge loan for business purposes. Second charge loans can assist clients in raising additional capital required for a wide range of purposes. We typically lend to companies supported by a second charge on a residential property owned by one of the Directors. Firstly, the key is to obtain the consent from the first charge holder. Once this has been obtained the loan generally proceeds to a quick completion.
Second charges are often important to provide extra security for funding transactions. Second charge loans are typically a short term solution for us to assist a customer with a business transaction. We generally require an up to date first charge mortgage statement, consent to the second charge, proof of adequate building insurance and an agents or professional valuation.
Find out more – Read our Second Charge Lending case studies.