West One Secured Loans will now offer second charge mortgages in Scotland.
These residential loans will be available to brokers north of the border and borrowers whose main residence is in Scotland.
They will have access to West One’s full second charge product range, including prime and near prime plans.
Rates for second charge mortgages start from 4.65 per cent, for a five-year fix up to 85 per cent LTV. Loan sizes are available up to £500,000.
To facilitate access for Scottish-based clients West One have partnered with specialist finance brokers The Lending Channel, based in Perth. West One says this secured loan broker will provider greater distribution as well as local market knowledge.
The Lending Channel’s managing director Alistair Ewing says: “We work with clients who wish to raise finance for a variety of purposes without disturbing their existing first-charge mortgage.
“Many parts of Scotland are becoming property hotspots and recent reports show we’re experiencing the highest year-on-year house price growth since April 2008. This creates second charge borrowing opportunities for residential property owners.”
