Second Charge Rates

A cost-effective way of raising capital.

Last updated 30/01/2020

Residential Rates

Lender	Initial Rate	Until	Max LTV	Arrangement Fee	Redemption Penalty	Reversion Rate
Optimum	2.99%	1 year discount	75%	£595	None	on application
Paragon	3.90%	Variable	70%	£745	None	3.90%
Precise	4.25%	2 year fixed	65%	£300	3%/2%	4.75%
Precise	4.90%	5 Year fixed	70%	£300	3%/3%/2%/2%/1%	4.75%
UTB	4.95%	5 year fixed	60%	£495	None	3.40%
Shawbrook	6.40%	3 year fixed	80%	£300	None	5.90%


Initial Rate	2.99%
Until	1 year discount
Max LTV	75%
Arrangement Fee	£595
Redemption Penalty	None
Reversion Rate	3.65%
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Initial Rate	3.90%
Until	Variable
Max LTV	70%
Arrangement Fee	£745
Redemption Penalty	None
Reversion Rate	3.90%
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Initial Rate	4.25%
Until	2 year fixed
Max LTV	65%
Arrangement Fee	£300
Redemption Penalty	3%/2%
Reversion Rate	4.75%
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Initial Rate	4.90%
Until	5 Year Fixed
Max LTV	70%
Arrangement Fee	£300
Redemption Penalty	3%/3%/2%/2%/1%
Reversion Rate	4.75%
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Initial Rate	4.95%
Until	5 year fixed
Max LTV	60%
Arrangement Fee	£495
Redemption Penalty	None
Reversion Rate	3.40%
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Initial Rate	6.40%
Until	3 year fixed
Max LTV	80%
Arrangement Fee	£300
Redemption Penalty	None
Reversion Rate	5.90%
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Buy to Let Rates

Lender	Initial Rate	Until	Max LTV	Arrangement Fee	Redemption Penalty	Rental Cover
Masthaven	4.58%	2 year discount	65%	1.5%	2%/1%	Dependent on terms
Precise	6.00%	5 year fixed	65%	£495	3%/3%/2%/2%/1%	125 @ 6.00%
Together	6.49%	Variable	75%	2.5%	4%/4%/3%/2%/1%	125% @ 6.49%


Initial Rate	4.58%
Until	2 year discount
Max LTV	65%
Arrangement Fee	1.5%
Redemption Penalty	2%/1%
Rental Cover	Dependent on terms
Quote


Initial Rate	6.00%
Until	5 year fixed
Max LTV	60%
Arrangement Fee	£495
Redemption Penalty	3%/3%/2%/2%/1%
Rental Cover	125% @ 6.00%
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Initial Rate	6.49%
Until	Variable
Max LTV	75%
Arrangement Fee	2.5%
Redemption Penalty	4%/4%/3%/2%/1%
Rental Cover	125% @ 6.49%
Quote

Use your equity

Second charge mortgages (or secured loans) are secured against your existing property and allow you to use your equity to raise finance.

Different lenders have different criteria, but second mortgages can be a cost-effective way of raising capital for a variety of different purposes, e.g. tax bills, home improvements, school/university tuition, business investment, debt consolidation, luxury purchases.

Why consider a second charge mortgage?

To capital raise from existing investment properties;
In order to keep a competitive rate on your first charge mortgage;
To avoid high ERCs on a current mortgage;
If your credit status has changed;
When funds are needed quickly;
Maybe a remortgage or further advance has been declined;
If you are stuck in debt management.

The Buy to Let Business can help you find the best product for your circumstances. Above are just a few of our current rates.

We're here to help.

Unsure of what kind of buy to let mortgage you're looking for? Professional mortgage advice is more important than ever. Call us. We're looking forward to hearing from you!

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