Page 16 - The Pulse Issue 9

Second Charge Mortgage Matrix Here’s a quick overview of our
second charge process:

Max Term Loan Employment Other Income Max Age BTL Lender Fee Historic Adverse Location Repayment
LTV Size Type at End of Product or ERCs Type 1.
Term Range Broker contacts Ingard with an overview of the second charge
Central 75% 3 - 30 £3k - Employed, self-employed (min Regular bonus/ 80 years Yes ERCs £395 Ignore CCJs <£300 and CCJs <£3k satisfied England, Capital deal by telephone, website enquiry or email.

Trust years £250k 1 year’s accounts), retired, overtime, commission, >12 months, Wales, repayment The enquiry will be assigned to a dedicated Second Charge
contract workers, zero hours all benefits, pension Lender fee 2% (min Mortgage arrears 2 in last 12 months, Scotland,
workers, temps with 12 months £395 / max £995) Ignore IVAs, Northern Specialist who will request you to send all of the information
history + £399 in Northern DMPs accepted, Ireland you have gathered so far e.g. Fact Find, Credit File etc. This will
Ireland Pay day loans current/ historic accepted help us to place the case as quickly as possible.
Equifinance 100% 3 - 25 £5K - Employed, self-employed Regular bonus/ 80 years No ERCs on fixed rate CCJs max value of £5k in last 12 months, England, Capital
years £100K overtime/ commission, products Mortgage arrears must have paid equivalent Wales, repayment 2.
benefits, pension of last 2 and equivalent of 4 in last 6 Scotland
Lender fee from £895 months, Ingard will place the case with one of the 13 second charge
IVAs/ DMPs accepted, lenders on our panel and send the introducing broker a quote
Pay day loans current/ historic accepted which breaks down the product details and fees.
Evolution 150% 1 - 15 £1k - Employed, self-employed Second job, regular 70 years Yes ERCs apply CCJs considered, England, Capital
Money years £20k (min 1 year’s accounts) bonus/ overtime/ Mortgage arrears 2 in last 3 months, Wales, repayment We will then require you to pass us the client’s contact details
commission, some Lender fee 10% plus Pay day loans current/ historic accepted Scotland, to enable us to process the case through to completion,
benefits, investment, fixed fee (dependent Northern providing you with regular updates throughout. If you would
foster/ child minding on loan size) Ireland like to stay involved and help the client to complete the
Masthaven 75% 3 - 35 £10k - Employed, self-employed, Second Job, regular 85 years Yes ERCs apply CCJs 2 in last 12 months, England, Capital documents, then we will send you a list of documents we need.
years £750k contractors, short work history bonus/ overtime/ Mortgage arrears 2 in last 12 months, Wales, repayment,
commission, some IVA/ bankruptcy > 3 years, Scotland interest-only
benefits, investment, DMP satisfied > 2 years, (BTL) 3.
pension, foster/ Pay day loans on referral Ingard’s broker fee starts from £995 and can either be paid
childminding upfront or on completion. If the client wishes to proceed, then
Norton 75% 1 - 25 £3k - Employed, self-employed Regular bonus/ 80 years No No ERCs CCJs ignore <£300 and £3k satisfied and all England, Capital Ingard will request the broker fee (if being paid upfront) and a
Finance years £150k (min 1 year’s accounts), overtime, benefits, >12 months, Wales, repayment Valuation Fee.
zero hours, agency/ contract pension Lender fee 2% - Mortgage arrears 2 in last 12 months, Scotland
workers, temps 2.75% dependent on IVAs/ DMPs accepted,
plan (min £200/ max Pay day loans current/ historic accepted 4.
£1295)
Valuation instructed.
Paragon 85% 5 - 25 £15k - Employed, self-employed (min Pension, child benefit 75 years No ERCs on fixed rate CCJs >36 months, England, Capital
years £500k 2 year’s accounts), retired self- products >£250k Mortgage arrears 0 current and any missed Wales, repayment
employed will affect credit score, Scotland 5.
80 years Lender fee from £345 IVA/ bankruptcy >6 years (mainland) Offer issued (providing the Valuation is satisfactory).
employed No DMP
Precise 85% 3 - 35 £10k - Employed, self-employed (min Second job, regular 70 years or Yes ERCs apply 1 CCJ in last 12 months (0 in 3), England, Capital
Mortgages years £500k 1 year’s accounts), retired bonus/ overtime, 75 years if 1 mortgage arrear in last 12 months (0 in Wales repayment, 6.
(refer to pension, rental profit they plan Lender fee from £300 3), interest-only Solicitor instructed and completion date set.
Ingard from BTLs to continue IVAs/ bankruptcy discharged > 6 years (BTL)
for more) working
Prestige 90% 3 - 25 £10k - Employed, self-employed (min 50% of second 85 years No No ERCs (selected CCJs 4 in last 12 months, England, Capital 7.
Finance years £2.5m 1 year’s accounts), retired job, regular bonus/ products) Mortgage arrears 3 in last 12 months, Wales, repayment Ingard will liaise with the Mortgage Broker, Solicitor and client,
overtime, pension (if IVAs/ Bankruptcy >12 months, Scotland
secondary income) Lender fee £300 Pay day loans current (max 3), to complete the case as quickly as possible.
No DMP
Shawbrook 95% 3 - 25 £10k - Employed, self-employed, Some benefts, pension 80 years No No ERCs CCJs 4 in last 12 months, England, Capital 8.
years £1m retired Mortgage arrears 4 in last 12 months, Wales, repayment On completion, the client will be paid the funds from the lender.
Lender fee from £495 IVA >36 months Scotland
DMP - to be repaid (mainland) The introducing Mortgage Broker will receive 50% of the Broker
Fee and Procuration Fee.
Step One 95% 5 - 30 £5k - Employed, self-employed, Second job, regular No max Yes ERCs apply CCJs unsatisfied <£3k and satisfied £10k, England, Capital
Finance years £500k contract workers commission/ bonus/ age Mortgage arrears 1 in last 12 months (0 in Wales, repayment
overtime, benefits, Lender fee 2% of net last 3), Scotland
DWP, pension loan (min £395) IVA/ DMP satisfactory conduct >2 years,
Bankruptcy discharged >2 years ignored Have a 2nd charge
Together 77.5% 3 - 30 £3k - Employed, self-employed, Pension, benefits, DWP, 80 years Yes No ERCs CCJs 6 in last 12 months (3 in last 6), England, Capital
years £1m contract workers, zero hour child benefit, various Mortgage arrears 6 in last 12 months (3 in Wales and repayment,
contracts, retired allowances (refer to Lender fee 2.99% last 6), Scotland interest-only case to discuss?
Ingard) (loan amounts <£50k IVA/ bankruptcy discharged or satisfied >
min £450); 2.50% 1 year,
(loan amounts >£50k DMP satisfactory conduct > 2 years,
max £10k) Pay day loans current/ historic accepted Contact our Specialist Team:
UTB 85% 3 - 30 £10k - Employed, self-employed (min Bonus/commission/ 85 years No No ERCs CCJs 2 in last 12 months, England, Capital
years £250k 2 year’s accounts) overtime, some Mortgage arrears 2 in 12 last 12 months, Wales, repayment Call us on 01702 538 800;
benefits, maintenance, IVA/ bankruptcy discharged > 6 years, Scotland
pension DMP satisfactory conduct, Email an enquiry to info@ingard.co.uk;
Pay day loans 1 in 12 months Visit our website to request a call back
distributor.ingardintermediaryservices.co.uk
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