The self-employed applicant and partner had a mortgage offer from a high street lender but, even with savings, needed £50,000 more to meet the property’s purchase price.
Vida Homeloans has rolled out distribution of its second charge mortgage range through a number of master brokers.
It has been a relatively slow start to fully integrating second mortgages into the solutions being provided by mortgage advisers around the UK, but like all significant change it will take time. Collaboration between specialist packagers and mortgage advisers is a fundamental requirement to make this happen.
Analysis for the Social Mobility Commission out yesterday suggests that more than one in three of homebuyers in England depend on money from their family with this figure expected to jump to every two in five homebuyers by the early 2020s.
Only Bridging, based in Hertford in Hertfordshire, will become another regional office under Loan.co.uk, which opened offices in Northern Ireland and Cardiff in the past six months.
Lender will be a boost for the Northern Irish market.