Secured Lending Options

Specialist Finance Master Broker

"We unlock the pathway
to a seamless customer journey"

About Secured Lending Options

Secured Lending Options are a specialist finance Master Broker based in Glasgow. As an independent established master broker, we deal with a wide panel of lenders and search the market on your behalf for the best possible solution.

Our team of qualified advisers are committed to superior customer service and pride themselves on getting the most suitable outcome for their customers.

We specialise in secured lending, advising on first and second charge mortgages, bridging loans, buy-to-lets and commercial mortgages. Our team has extensive knowledge and valued experience in the industry, we work closely with our clients to understand their financial goals and help them achieve their objectives.

At Secured Lending Options, we believe that transparency and communication are essential to building trust and strong relationships with our clients. That’s why we provide clear and concise information about our services and fees, and we are always available to answer any questions or concerns.

Our key services...

First Charge Mortgage

A First Charge Mortgage, often known as simply a mortgage is a loan taken out to purchase a property or land. It is prudent, to initially apply for a Decision in Principle (DIP) also known as Mortgage Approval. This is based on several factors; Eligibility - lenders assessing a regular taxable income (factoring in existing debts and living expenses) ensuring the mortgage is affordable. Reliability – viewing applicants current and previous credit history. Suitability – making sure the property type, meets the lenders criteria. Some lenders can restrict borrowing due to the condition of the property and for non-standard construction. Due to rising house prices a mortgage is now typically taken out over a longer term, i.e., 25-35 years.

Second Charge Loans

A First Charge Mortgage, often known as simply a mortgage is a loan taken out to purchase a property or land. It is prudent, to initially apply for a Decision in Principle (DIP) also known as Mortgage Approval. This is based on several factors; Eligibility - lenders assessing a regular taxable income (factoring in existing debts and living expenses) ensuring the mortgage is affordable. Reliability – viewing applicants current and previous credit history. Suitability – making sure the property type, meets the lenders criteria. Some lenders can restrict borrowing due to the condition of the property and for non-standard construction. Due to rising house prices a mortgage is now typically taken out over a longer term, i.e., 25-35 years.

Buy-To-Let

A Buy-to-Let Mortgage is for individuals or landlords who want to buy or re- mortgage a property that will be rented out? The mortgage will be assessed on the rental income known as the Interest Coverage Ratio (ICR). Taking into account the borrowers tax status, i.e., 125% for basic and 145% for higher rate taxpayers. A larger deposit of typically 25% would be required, with product fees and interest rates generally higher than traditional residential mortgages. Most mortgages will be on an interest only basis with a view to the investor making a maximum return on the rental, as well as the asset likely to increase in value, over the longer term.

Bridging Finance

Bridging Loans are short-term lending solutions often used by buy-to-let landlords, developers, or alternative funding for customer’s looking to move, that want to purchase another property, but haven’t sold their own. It helps carry the cost of financing a project until a longer-term mortgage is secured against it, or the asset is eventually sold (these two scenarios are the most common exit routes for a bride). Bridging finance can typically be arranged for periods between 1-18 months (some lenders can insist on a minimum term of 3 months).

Commercial Finance

Commercial Mortgages are related to business transactions and secured against company property, with greater focus on the security and serviceability. Rates are generally higher than your standard residential mortgage with most lenders having a maximum borrowing of 75% loan to value (which means a larger deposit is required). We provide a bespoke service and offer guidance and support throughout your loan application.

Why Choose Us?

There are many reasons why brokers/clients partner with Secured Lending Options. Here are just a few:

  1. Expertise: Our team of finance experts have decades of experience in the industry and a comprehensive understanding of the market. We use our expertise to find the best outcome for their unique needs and personal circumstances.
  2. Wide Range of Options: We work with a wide range of lenders on our panel, to make sure clients have a variety of financial options. This means that we can often source a product for clients who have been turned down or declined by other lenders.
  3. Personalised Service: One of our many traits, we believe in providing personalised service to every client. We take the time to get to know our clients and their goals and work closely with them to find the right solution to meet their needs.
  4. Fast Approval: We understand that clients often need financing quickly. That’s why we work hard to get approvals as quickly as possible, so clients can move swiftly with their plans.
  5. Flexible 2nd charge Fee Structure. We take great pride in offering a more flexible and compassionate approach, with a fee structure which is considerably lower than industry standard.

Mortgage or Specialist Mortgage

Whether it’s a first-time-buyer or an applicant that has more complex needs and you or your clients are not fortunate enough to meet high street lending criteria, securing a mortgage by the traditional route can be challenging. Secured Lending Options can help by using our knowledge and expertise …

Reasons for a first charge or specialist mortgage:

  • Residential mortgage – seeking a mortgage from our diverse panel of mainstream and specialist mortgage lenders.
  • First-time-buyer – whether good, bad or an indifferent credit profile, we should be able to source the mortgage if you have the necessary deposit (even if gifted) and can meet the lender’s affordability.
  • Re-mortgage – sourcing you a better rate, potential debt consolidation or an interest-only mortgage, we will put our knowledge to the test to meet your own personal circumstances.
  • Home mover – circumstances changed, outgrown your family home or downsizing, looking for a lender that has higher income multiples.
  • Impaired or adverse credit – declined by mainstream due to defaults or CCJ’s, any poor credit over missed payments.
  • Complex mortgage needs – whether its low income, on benefits or need family assistance by way of a guarantor or second applicant.
  • Inconsistent self-employed income – from company restructures, declining income trends due to re-investment in the business. Only been trading 12 months.
  • Non-standard properties – those that deviate from standard, possibly metal frame or prefabricated concrete *some restrictions in loan to value usually apply.
  • Joint Borrower Sole Proprietor – lets an applicant add a family member to their mortgage application to improve borrowing capacity and affordability. Both with be jointly liable for the mortgage – “owner borrower” and non owner borrower.
  • Gifted Equity – for clients purchasing from a family member or long-standing tenant from their landlord.
  • Individual Circumstances – buying overseas property, gifting money to family, raising money for a business purpose, any legal purpose will suffice.
  • Inconsistent self-employed income – from company restructures, declining income trends due to re-investment in the business or been trading for only 12 months.

Second Charge Mortgage (Secured Loan)

A second charge mortgage otherwise known as secured loan would rank second, behind your first charge and tends to be more expensive with higher interest rates and usually comes with higher fees than a traditional mortgage.

Reasons for a second charge mortgage (also known as a secured loan):

  • Home improvements – typically extending your property or making renovations to your home, for instance with a “new bathroom or that dream kitchen”.
  • Debt consolidation – combine loans, credit cards and overdrafts into one manageable repayment.
  • Impaired credit – change to circumstances due to life event, declined by mainstream due to defaults or CCJ’s. Some lenders can disregard any previous impaired credit if over 12 months old.
  • Deposit for investment property – ideal for existing landlords or clients looking to start a portfolio.
  • Capital raising – help finance a caravan, motorhome or the car of your dreams.
  • Special occasions – pay for a wedding, honeymoon or holiday of a lifetime.
  • Expand existing business – finance for expanding business, increase stock or even clear a tax bill.
  • Sole owner / 1 on title – Can combine second income from spouse or partner to increase affordability.
  • Gift to family member – Help children / grandchildren get on the property ladder, gift towards deposit or pay for further education.

Buy-to-Let / Ltd Co Mortgage

A Buy-to-Let (BTL) mortgage is typically used by landlords or individuals who are looking for an income / yield from their investment. Rates tend to be higher than a standard residential mortgage with the minimum deposit usually 25% of the property value (although can vary between 20-40%). The loan amount is linked to the rental income you receive and most BTLs are on an interest only basis (therefore not reducing the capital balance).

Reasons to have a Buy-to-Let mortgage or Ltd Co BTL:

  • Experienced landlord – usually classed as someone who holds a larger portfolio or at least 3 or 4 mortgaged properties that are rented out for investment purposes, providing additional income and appreciation.
  • First time landlord – a novice who is looking to start investing in property seeking a return over the medium to longer term, some age restrictions do apply (minimum age usually 21 or 25). We strongly advise you do thorough research as it can be costly and carries an element of risk.
  • Landlord by default – typically an individual who has inherited a property (not purchased by the applicant) and renting it out or a client who has kept their first property and moved in with partner or just moved to a bigger property as their family grows.
  • No minimum personal income – often lenders would expect landlords to have a minimum income of 25K + (to cover any possible voids). We can source a lender that has no minimum income requirements subject to sufficient rental coverage.
  • Limited adverse credit available – if you have recent credit problems, you will struggle to apply for a BTL mortgage, although some lenders can provide options with more historic missed payments and defaults.
  • Affordability based on rental coverage – unlike residential mortgages, the amount you can borrow is not based on loan to income ratio but is calculated on the rental income received. The calculations will vary depending on your own tax status.
  • Top Slicing available – some lenders will permit a percentage of applicants’ personal income, to increase their borrowing potential if the rental coverage falls short on their calculations.
  • Limited Company BTL’s – becoming more popular for experienced landlords and higher rate taxpayers, due to the phasing out of mortgage interest relief. Paying corporation tax at lower rates than an individual’s higher rate tax. It can also help to reduce potential “Inheritance Tax Liability” by making one or more family members shareholders.
  • Interest-only or Capital Repayment options available – the majority of buy-to-let mortgages are on an interest-only basis. This helps maximise your loan amount. You can opt for a standard repayment method “capital and interest” which, tends to work on lower loan to value propositions.

Bridging Finance

Bridging Loans are a short-term lending solution often used by buy-to-let landlords, developers, and other short term property transactions to bridge the gap between either the sale of the property, or access to longer term finance. Bridging finance can typically be arranged for periods of 1-18 months.

Reasons for a short-term funding (also known as bridging finance) 1st and 2nd charge options:

  • Buying a property at auction or under market value – ideal for refurbishment opportunities.
  • Purchase property not suitable for conventional borrowing or even habitable – property development or developers looking to flip properties or add to their portfolio.
  • Renovation work – light or heavy refurbishment – upgrade property or extensive renovation work, a schedule of works will be required.
  • Need funding to finish an existing project – due to rising labour costs or additional materials, you could be over budget and unable to finish the project or development. 1st or 2nd charge is available.
  • Secure a new purchase, whilst waiting for the sale of another property – smooth transition when downsizing or step in to prevent possible chain-breaking transactions.
  • Access to quick funding – faced with a deadline, need to conclude quickly – a solid exit route would need to be provided.
  • Multiple properties on one title – more bespoke purchase with a view to separating title and re-mortgage.

Commercial Mortgage

Commercial Mortgages are related to business transactions and secured against company property, with greater focus on the security and serviceability. Rates are generally higher than your standard residential mortgage with most lenders having a maximum borrowing of 75% loan to value (which means a larger deposit is required). We provide a bespoke service and offer guidance and support throughout your loan application.

Reasons for a commercial mortgage 1st and 2nd charge options:

  • Maybe renting business premises and have an option to buy – a common scenario, landlord giving tenants first offer and wants to sell premises. Paying a mortgage tends be cheaper than paying the rent and longer term can be a good option for established businesses.
  • Purchase additional business premises – looking to expand business and generate additional income or increase capital growth.
  • Already own premises and looking to re-finance – lost that relationship with existing lender, switch for better terms or release funding to increase cashflow or to expand the business. We can help unlock the equity in your business premises.
  • Investment purpose – traditional landlord looking to diversify and add a commercial property to their portfolio – for letting purpose and working from the rental assessment.
  • Multiple properties or complex corporate structures – more bespoke transactions with SPV or Holding Companies. Make sure to seek guidance from a qualified tax expert or accountant.