We find out more about a specialist finance broker that can help make your holiday home dreams come true…

Thinking of buying a holiday home or leisure lodge? Choosing where to buy your park holiday home is a task in itself; arranging the most suitable finance is likely to be even more challenging. Then there is the question of whether to buy new or used. Used sometimes attract discounts but the drawback is the increased levels of maintenance over a new purchase. Searching for the right park home site for you may be your first move, along with its geographical location, travelling times, local attractions and amenities. All will be a major factor in the decision making process. Sorting out the correct finance for the purchase – which could run into tens of thousands of pounds, is essential.

Today there are any number of loan options available to finance your purchase, including second charge mortgages. These are typically arranged through a different lender so as not to interfere with the existing mortgage arrangements, which may have preferential rates and a fixed term. First 4 Seconds is a specialist finance broker in second charge mortgages, often referred to as ‘homeowner loans’ secured on your main residence. The benefit of this type of loan is that it is relatively simple to set up, its usually quicker than a traditional re-mortgage and will give you the flexibility to repay the loan over a similar period to your existing main mortgage, making the repayments lower than a personal loan. With rates starting from 3.64%, a typical loan of £40,000 over a 15-year term could cost as little as £325.69.*

It’s an alternative and cost-effective way to fund your purchase. The interest rates are typically low, with flexible terms and loan periods, although the rates and terms are subject circumstances and property type.
Whilst affordability assessments are required, a second charge secured loan normally offers lower interest rates and a serious alternative to other types of funding, such as personal loans. If you have not heard of second charge mortgages before, you may be surprised by their affordability.

*Based on a loan of £40,000 over 15 years on a repayment basis; 70% loan to value. Employed applicant aged 55 years old with clean credit. Interest rate of 3.9% variable with a lender arrangement fee of £335 APR 5.6%. A broker fee may be charged for arranging the loan of up to 5%. We may also be paid a commission from the lender. A personal illustration will be provided which will outline the costs associated with arranging the loan. First 4 Seconds is authorised and regulated by the Financial Conduct Authority FRN Number:727308. Data Protection Act no: Z2777642

For more information visit the website at: www.first4seconds.co.uk or call 01784 605 635 for a free no obligation illustration.