Norton Home Loans Launches 80% LTV Second Charge Mortgage

Norton Home Loans has launched a second mortgage product with a maximum LTV of 80%.

The product is available for a maximum loan amount of £100,000 and for a range of repayment periods, with options available for variable rates, 3 year fixed rates and 5 year fixed rates.

The new 80% product has all the flexible criteria brokers have come to expect from Norton Home Loans for adverse credit, income and property type.

Norton Home Loans is a specialty lender offering first and second mortgage loans to customers who don’t tick all the boxes with high street lenders.

David Binney, Commercial Director at Norton Home Loans, said: “A growing number of clients and brokers are realizing that second mortgages can be a cost-effective way to raise funds for a variety of purposes, from consolidation from debt to home improvements. However, it often happens that second mortgage customers do not have enough equity available in their property to use the product, so we are really excited to launch this 80% LTV second mortgage on the Marlet. We believe this will open up more opportunities for advisors to have conversations with their clients about this simple and flexible way to meet their capital raising needs.

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