Mortgages Made Simple | Cross Point Financial
A mortgage is likely to be the single largest financial commitment you ever make. There's a wide range of mortgage products out there, with varying interest rates and repayment options available. It can be difficult to know which is best for you.
Whether you are looking for first time buyer mortgage advice, advice on remortgaging, or something else, Cross Point Financial is on hand to help. We strive to support all our clients in buying a home, wherever we can.
Second Charge Loans
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
Second charge loans can be secured against residential or Buy to Let properties. They are provided by specialist lenders and are generally short-term loans secured against the property, but where the lender has second call on the property if the borrower defaults.
Second charges tend to be more expensive than ‘firsts’, but can still be the best option for people seeking to raise capital – but whose main lender is unwilling to provide further finance, or where expensive early redemption charges would be incurred.