This week’s Star Letter goes to Robert Gill for his comments on Maeve Ward’s second charge blog for Specialist Lending Solutions: Mortgage brokers are missing business opportunities
“To a regulated mortgage adviser seconds have always the been the third option. If capital raising is required you’ll look at the possibility of a remortgage first. If a remortgage isn’t possible you’ll then look at a further advance. Only then if neither of those options are feasible, you’ll then move onto a second.
“I have just made my first second charge mortgage referral in over two years to help a business owner raise capital to pay a tax debt and keep his first charge interest only base +1% mortgage intact. A perfect case for a second if ever there was one. Unfortunately, however, these cases are rare.”