CMME has announced a second charge mortgage solution for contractors, business owners and other professionals looking to take advantage of their home equity.
With total second charge lending passing the £1 billion milestone in 2017, they are becoming a more mainstream and popular form of secure lending.
Working with a panel of nine second charge lenders, CMME (formerly Contractor Mortgages Made Easy) will now be able to support clients wishing to maximise the equity in their property without remortgaging.
Jason Powell, chief executive officer of CMME, said that as market appetite shifts towards longer-term fixed mortgages and increased reluctance to move home, the firm has received lots of queries from its core professional contractor audience about getting the most value out of their property.
“Whether seeking home renovations, or even owning a second home, a second charge mortgage can be a great solution for those with complex incomes.”
He concluded: “As we remain dedicated to keeping pace with changing demand, this expansion is just the first of many new product innovations we have in the pipeline – all to be revealed in the coming months.”