In the UK alone, self-employment is through the roof. Only last month, the SME Insider reported ‘another rise in the levels of self-employment’, as the Federation of Small Businesses (FSB) released figures that show levels of self-employed people has risen by 213,000 since 2015.
With this notable increase, we have been exploring how self-employed borrowers could be using the equity tied up in their homes as a way of injecting capital into their business.
Second charge bridging finance is an extremely beneficial product for those who already have a mortgage secured against their property, but need further funds for a short period of time. In regards to the self-employed, a second charge bridging loan is an essential product, as it can release capital to start a new business or help expand a venture.
We work very closely with a lender who can help you to easily release equity in your main residence in order to help you start or expand your business – even if you already have a primary loan on your home.
At a fantastic rate of 9.49% over 12 months, this lender offers borrowers the cheapest rate to take money out of your property and invest in a new business idea with lightning speed and efficiency. The lender is also offering this product at 70% loan to value (LTV) which is above the industry standard for second charge loans, usually 65%.
Not only can these funds be arranged quickly and cheaply, but you can also be rest assured this will not disturb your current lender’s terms on your property.
If you are interested in this product, we would be more than happy to introduce you to the relevant lender and provide expert advice for your circumstances.
Our expert brokers are on hand day and night, so please do not hesitate to get in touch.