Our Guide To Second Charge Lending

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2nd Charge Lending products have become increasingly popular in the current, tough lending market. Many borrowers who are still on first charge products at attractive rates are choosing to raise capital behind this as a second charge, allowing them to keep their blended interest rate lower. 2nd charge loans allow the second lender to sit behind the first charge lender, providing further funds secured against the property. 

Such 2nd charge lending products can be particularly useful for company owners who may be seeking business-related finance, and who are able to offer a property as security for a loan.  

However, securing such products can sometimes be a painful process, with a number of obstacles that need to be overcome. It requires the consent of the first charge holder, along with mortgage statements from them. There are also sometimes additional legal requirements, such as a deed of postponements, a deed of subordination and a deed of priority.  

At Albatross, we want to make the process as smooth as possible, so our in-house case management team makes direct contact with the first charge lender and supports you and your deal throughout, simplifying and speeding up the borrowing process. Our experts remain on hand to answer questions and guide you through each step. 

Highlights of Albatross 2nd Charge Lending 

  • Loans up to £2M 
  • First charge consent dealt with by Albatross in-house team  
  • Max First Charge 45% 
  • Max LTV 65% 
  • Available on Residential Property Only 
  • Rates from 0.99% pcm 
  • Max term 24 months 

How can I apply?  

At Albatross, our team of finance and property specialists are focused on how we can support your project and continue with you on your growth journey. To learn more about Albatross’ 2nd Charge Lending products, speak directly to one of our decision-makers today. 

Nils Raber 

Associate Director 

nils@albatrosslending.co.uk 

0208 079 7691 

Matt Rogers 

Sales Director 

matt@albatrosslending.co.uk 

0208 079 7691