Second Charge

Whether your client quickly needs funds to purchase an investment property, facilitate a new business venture, or refurbish a property within a portfolio – all without disturbing their existing mortgage, our second charge bridging products could help.

Available on a residential or semi-commercial property, your client can borrow over 1-24 months without incurring any penalties if they wish to pay their bridging loan off earlier.

We accept many income sources, and all our decisions are based on the asset, allowing us to take a practical and common-sense approach.


Do you offer AVMs?

Yes, we provide AVMs on bridging applications which meet the below criteria:

– regulated and unregulated bridging finance applications

– standard residential properties only

– available for first and second charges

– up to a maximum of 60% LTV

– up to a maximum property value of £750,000

– up to a maximum loan size of £450,000, including cases involving multiple securities

– minimum Hometrack confidence level of 5+

How will an AVM work at MT Finance?

Once we are satisfied that the property meets all our criteria, we will undertake an AVM. The report will be received in less than a minute. If the property has passed, then the full application will be sent to our underwriters and it can go straight to legals.

An AVM is free of charge and valid for up to three months.

Can an AVM be used for a second charge bridging loan?

Yes, an AVM can be used on a second charge bridging loan, as long as the property meets all our criteria.

How much can my client borrow?

Your client can borrow between £50,000 to £10,000,000. However, we can consider amounts that fall slightly outside this.

What property types are acceptable?

The security must be in England or Wales and be wind and watertight. We will accept houses, flats, flats above commercial property, freehold flats, HMOs (including student accommodation), small hotels and B&Bs, prime leisure, retail units, and offices as security. 

What is your borrower eligibility?

We accept bridging loan applications from:

– those aged from 21-85 years

– LTD company/ LLPs/ Non EEA/ expats

– those with adverse credit, CCJs, or arrears

– first-time landlords

What are the loan terms?

Our loan terms on a non-regulated bridging loan range from a minimum of 1 month to a maximum of 24 months. In addition to this, there are no fees or charges for early repayment.

How long will it take to get the funds?

We can send you terms to review within one business hour. After that, a bridging loan application is typically completed within 2-3 weeks, but we can often deliver funds earlier, depending on your client’s circumstances.

What are the fees?

There are no exit fees or early repayment fees should your client wish to exit the bridging loan early. However, we do charge fees for the following:

– Valuation fee: this covers the surveyor’s costs for carrying out your client’s property valuation

– Facility fee: the cost of setting up the loan (2% of the loan)

– Administration fee: the cost of our administration of the loan

– Legal fee: usually charged at a set rate and pays our legal fees for completing the loan