{"id":3860,"date":"2021-01-26T12:09:23","date_gmt":"2021-01-26T12:09:23","guid":{"rendered":"https:\/\/octagoncapital.co.uk\/?p=3860"},"modified":"2021-07-23T15:29:00","modified_gmt":"2021-07-23T14:29:00","slug":"david-beard-comment-lending-expert","status":"publish","type":"post","link":"https:\/\/octagoncapital.co.uk\/guides\/david-beard-comment-lending-expert\/","title":{"rendered":"David Beard Comment &#8211; From Lending Expert &#8211; &#8220;Second Charge Lenders Still Have a Good Appetite&#8221;"},"content":{"rendered":"<p><span style=\"color: #000000;\">Second charge lenders still have a good appetite, explains David Beard, the founder of Lending Expert, one of the UK&#8217;s leading price comparison websites.<\/span><\/p>\n<p><span style=\"color: #000000;\">Beard explains that whilst the UK is in its third lockdown, the housing market remains open and <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/octagoncapital.co.uk\/guides\/how-to-get-a-house-valuation-for-free\/\">property valuations<\/a> <\/span>can still take place, allowing applications to be processed and deals to be completed across second charge loans, mortgages, bridging loans and more.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"color: #000000;\"><strong>David Beard, founder of <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.lendingexpert.co.uk\/bridging-loans\/\">Lending Expert<\/a>,<\/span> explained:<\/strong><\/span><\/h2>\n<p><span style=\"color: #000000;\"><em>\u201cWhile business levels were quite significantly effected during the first national lockdown in March 2020, it\u2019s now \u201cbusiness as usual\u201d during this\u00a0<\/em><em>third lockdown\u00a0<\/em><em>for the secured loans industry.\u201d<\/em><em>\u00a0<\/em><\/span><\/p>\n<p><span style=\"color: #000000;\"><em>\u201cJanuary 2021 is showing that many second charge lenders still have a good appetite to lend and borrowing rates and products have mostly remained unchanged. The key differences to note are during this\u00a0<\/em><em>third national lockdown\u00a0<\/em><em>is that the housing market has remained open and lenders are able to instruct surveyors for home valuations which is critical to successfully carry out secured lending and mortgage applications.\u201d<\/em><\/span><\/p>\n<p><span style=\"color: #000000;\"><em>\u201cThis time round there is no restriction on physical valuations and for over a decade the industry has offered a huge range of products available using Hometrack or similar desktop valuation models.\u201d<\/em><\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_3876\" aria-describedby=\"caption-attachment-3876\" style=\"width: 581px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-3876 \" src=\"https:\/\/octagoncapital.co.uk\/wp-content\/uploads\/2021\/01\/david-beard-lending-expert.jpg\" alt=\"david beard lending expert\" width=\"581\" height=\"387\" srcset=\"https:\/\/octagoncapital.co.uk\/wp-content\/uploads\/2021\/01\/david-beard-lending-expert.jpg 1024w, https:\/\/octagoncapital.co.uk\/wp-content\/uploads\/2021\/01\/david-beard-lending-expert-300x200.jpg 300w, https:\/\/octagoncapital.co.uk\/wp-content\/uploads\/2021\/01\/david-beard-lending-expert-768x512.jpg 768w\" sizes=\"(max-width: 581px) 100vw, 581px\" \/><figcaption id=\"caption-attachment-3876\" class=\"wp-caption-text\"><span style=\"color: #000000;\">David Beard believes that second charge lending will thrive, despite the third lockdown<\/span><\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<h2><span style=\"color: #000000;\">Stamp duty deadline also likely to play a role<\/span><\/h2>\n<p><span style=\"color: #000000;\">With the <a href=\"https:\/\/octagoncapital.co.uk\/guides\/is-there-still-time-to-buy-before-the-stamp-duty-holiday-ends\/\">upcoming stamp duty deadline of 31st March 2021<\/a>, this will certainly play a role in boosting mortgage applications and deals in Q1. With those properties under \u00a3500,000 in the UK incurring zero stamp duty, there is certainly an incentive for first-time buyers, homeowners and developers to make an application or complete on a purchase, giving them a saving of \u00a315,000.<\/span><\/p>\n<p><span style=\"color: #000000;\">With the deadline around 8 weeks away, this will certainly be a busy time for borrowers, brokers and lenders and this will continue to drive the second charge and general mortgage market, certainly in Q1.<\/span><\/p>\n<p><span style=\"color: #000000;\">What remains after in Q2 is yet to be determined and it could result in a major house pricing crash or a surge in house prices too.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"color: #000000;\">About second charges<\/span><\/h2>\n<p><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/octagoncapital.co.uk\/second-charge-loans\/\"><span style=\"color: #0000ff;\">Second charge loans<\/span><\/a> are used by developers and homeowners as a way to raise additional funds on an existing mortgage. The amount you can borrow is a little less than your first mortgage and it is known as a second charge because it is the second priority after your first mortgage has been paid. For developers, second charges are used to pay off existing debts, renovations, building work or finance a new property. For homeowners, second mortgages are often used to raise funds for debt consolidation, school fees, weddings and more. There is always a risk of repossession if you cannot repay your loan on time, or you may have to give up equity in your first original property to the outstanding lender.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Second charge lenders still have a good appetite, explains David Beard, the founder of Lending Expert, one of the UK&#8217;s [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":3875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,7],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>David Beard Comment - From Lending Expert | Octagon Capital<\/title>\n<meta name=\"description\" content=\"We speak to David Beard, the founder of Lending Expert who discusses the persistence of the second charge lending industry during the pandemic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/octagoncapital.co.uk\/guides\/david-beard-comment-lending-expert\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"David Beard Comment - From Lending Expert | Octagon Capital\" \/>\n<meta property=\"og:description\" content=\"We speak to David Beard, the founder of Lending Expert who discusses the persistence of the second charge lending industry during the pandemic.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/octagoncapital.co.uk\/guides\/david-beard-comment-lending-expert\/\" \/>\n<meta property=\"og:site_name\" content=\"Octagon Capital\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/OctagonCapital\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-26T12:09:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-23T14:29:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/octagoncapital.co.uk\/wp-content\/uploads\/2021\/01\/David-Beard.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"360\" \/>\n\t<meta property=\"og:image:height\" content=\"280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dan Kettle\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@octagon_capital\" \/>\n<meta name=\"twitter:site\" content=\"@octagon_capital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dan Kettle\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/octagoncapital.co.uk\/guides\/david-beard-comment-lending-expert\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/octagoncapital.co.uk\/guides\/david-beard-comment-lending-expert\/\"},\"author\":{\"name\":\"Dan Kettle\",\"@id\":\"https:\/\/octagoncapital.co.uk\/#\/schema\/person\/02bdf6831622e94e51fa8603f0aed879\"},\"headline\":\"David Beard Comment &#8211; 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