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Colonial Second Charge Loans

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Colonial Second Charge Loans

CSC Loans are an award winning Master Broker whose management team share over 50 year’s experience in 2nd charge loans.

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Why CSC Loans?

  • Flexible – Offering 2 Processes depending on your Scope of Service: Packaged – you advise, they package. Advised – they advise, they package 
  • High conversion rate (2015 – 61% of cases that were issued wet to completion) Awarded (Nov.15) Shawbrook Bank’s – Best Converter from Application to Completion 
  • Free 2nd charge sourcing system. Please call CSC Loans for details 
  • Whole of market panel catering for all scenarios, Residential, BTL, prime, near prime etc
  • Excellent lender relationships. Referrals sent directly to Head of Underwriting or Directors (decision makers)
  • CeMAP qualified staff. All New Business quoting and Processing staff are CeMAP qualified 
  • CSC to pay processing costs. Clients are given the choice to pay any fees upfront or have them added to the loan. Where your client has elected to add the fees to the loan CSC Loans will pay for all the processing costs which are then reimbursed by the lender to CSC Loans on completion
  • Simple 3-tiered packaging fee structure starting at £995 – meaning you know what fees will be charged for every client 
  • Free 100%of the lender procuration is forwarded on to you the broker when you give the advice* – this is payable within 24 hours of them being notified of completion 

2nd Charge Products

  • Residential – Up to 95% LTV
  • Buy to Let up to 85%
  • Residential rates from 4.15%
  • Buy to Let rates from 5.79%
  • Variable, tracker and fixed rate (2,3,4,5 and 10 year) products available 
  • Interest only (with evidence of repayment vehicle)
  • Semi-commercial 
  • Buy to Let up to 85%
  • Residential rates from 4.15%

When to consider a 2nd charge?

  • Client is currently benefiting from a low fixed rate or tracker mortgage and you can’t remortggae to a lower or equivalent rate
  • Client will incur ERC’s on existing mortgage if they were to remortgage
  • Flexible income criteria – 6 to 8 times income
  • Flexible income – some lenders will work to projected income 
  • Acceptable purposes – tax bill, business expansion, home overseas, school fees, Buy to Let deposit, extend lease 
  • Most lenders ignore adverse over 12 months old
  • Ability to add a partner to the loan for income who isn’t on mortgage/deeds
  • Existing first mortgage will not further advance
  • Client has an interest only first charge and can only remortgage to a lender offering a capital & interest product 

Contact CSC Loans

If you have any queries please contact the CSC Loans team to discuss any potential 2nd charge enquiries with our CeMAP qualified team: 0800 083 1273