Spring Finance homeowner loans

With the current increased popularity of second-charge mortgages, we take a look at Spring Finance and see if it lives up to its mantra of providing second-charge mortgages to those “who are unable to obtain finance from traditional high street lenders.”

Who is Spring Finance?

Established in 2011, Spring Finance offers long term second charge loans of £10,000 to £200,000 to UK homeowners with repayment terms of up to 25 years.

Since former Masthaven CEO Andrew Bloom acquired a large majority stake in the provider back in 2021, Spring Finance has ramped up its expansion with the hiring of several ex-Masthaven Bank bridging loans experts, including their previous head of business development, Jim Baker. In 2022, this expansion continued with Spring Finance entering the bridging and development finance market, now offering both regulated and unregulated loans on a first and second charge basis.

Compare Spring loans

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Product	Maximum LTV	Loan amounts	Loan terms	Overall cost for comparison
Spring First and Second Charge - 5yr fixed Prestige 1	65%	£10,000 to £200,000	3 to 25 years	10.9% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 3yr fixed Prestige 1	65%	£10,000 to £200,000	3 to 25 years	11.3% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge- 5yr fixed Prestige 2	65%	£10,000 to £200,000	3 to 25 years	11.3% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 5yr fixed Prestige 1	70%	£10,000 to £150,000	3 to 25 years	11.3% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 3yr fixed Prestige 1	70%	£10,000 to £150,000	3 to 25 years	11.6% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 2yr fixed Prestige 1	65%	£10,000 to £200,000	3 to 25 years	11.7% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 3yr fixed Prestige 2	65%	£10,000 to £200,000	3 to 25 years	11.7% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge- 5yr fixed Prestige 2	70%	£10,000 to £150,000	3 to 25 years	11.7% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 5yr fixed Core 1	65%	£10,000 to £200,000	3 to 25 years	12% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 3yr fixed Prestige 2	70%	£10,000 to £150,000	3 to 25 years	12% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 5yr fixed Prestige 1	75%	£10,000 to £100,000	3 to 25 years	12% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 2yr fixed Prestige 2	65%	£10,000 to £200,000	3 to 25 years	12.1% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 2yr fixed Prestige 1	70%	£10,000 to £150,000	3 to 25 years	12.1% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 3yr fixed Prestige 1	75%	£10,000 to £100,000	3 to 25 years	12.2% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - Lifetime Tracker Prestige 1	65%	£10,000 to £200,000	3 to 25 years	12.3% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 3yr fixed Core 1	65%	£10,000 to £200,000	3 to 25 years	12.3% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge- 5yr fixed Prestige 2	75%	£10,000 to £100,000	3 to 25 years	12.4% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 2yr fixed Prestige 2	70%	£10,000 to £150,000	3 to 25 years	12.5% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - Lifetime Tracker Prestige 2	65%	£10,000 to £200,000	3 to 25 years	12.6% APRC	Check eligibilityView details Compare	loading Fetching your data...
Spring First and Second Charge - 2yr fixed Prestige 1	75%	£10,000 to £100,000	3 to 25 years	12.7% APRC	Check eligibilityView details Compare	loading Fetching your data...

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What is a second-charge mortgage?

Like your existing (first-charge) mortgage, a second-charge mortgage is a type of loan that is secured against your home or property. This means that if you don’t keep up repayments your property will be at risk.

Spring Finance offers second-charge mortgages on both residential homes and buy-to-let investment properties.

Key features of Spring personal loans

• Spread your loan over 3 to 25 years. Keep in mind that longer terms help keep monthly repayments down, but also push up the overall cost.
• Borrow £10,000 to £200,000. The amount you can borrow will depend on factors like your credit score and affordability. Spring Finance will lend up to 80% of the value of your property.
• Poor credit histories considered. You may be accepted for a loan if your credit score is less than perfect. You will, however, have to prove you can afford the repayments.
• Available to self-employed. Spring Finance states that it will consider your application if you’re self-employed.

Pros and cons of Spring Finance personal loans

Am I eligible for a Spring Finance secured loan?

You should only apply for a secured loan if you’re certain you can meet the repayment terms. You must also meet the following criteria:

• Be aged 18–70.
• Live in the UK.

How do I apply?

Spring Finance doesn’t provide loans directly to consumers, but accepts applications through brokers. You can click on a “get quote” button above. After filling out your contact information and details about your property value and mortgage, an advisor will contact you to discuss your application and suggest the best loan for you.

Overview of Spring Finance homeowner loans

Frequently asked questions

• How much can I borrow?

  Spring offers loans of £10,000 to £200,000 to be repaid over 3 to 25 years but the amount you can borrow will depend on your credit score, the equity in your home and your income and outgoings.

• How do I make repayments?

  Spring Finance’s preferred method for collecting payments is by standing order. But you can also pay:

  • via Spring Finance’s online paying system
  • via your internet banking system, quoting the reference number and bank details
  • by paying in book – you will need to contact Spring Finance’s customer services department to request a paying in book
  • by cheques

• Does Spring Finance lend on buy-to-let properties?

  Yes. Spring Finance lends on both owner-occupied and buy-to-let properties.

• Is Spring Finance regulated?

  Yes, Spring finance is authorised and regulated by the Financial Conduct Authority (FCA).

• How do I get in touch with Loans Warehouse?

  If you have any issues or queries, you can ring Loans Warehouse customer service on 01923 660218.

Written by

Emily Herring

Publisher

Emily Herring is a Publisher at Finder specialising in credit-based products including credit cards and business and personal loans. Emily has recently joined the Investments team. She has a Masters in Creative Writing & Publishing and a Bachelor of Arts in Communication & Media. See full bio

Emily's expertise

Emily has written 123 Finder guides across topics including:

• Loans & credit cards
• Building credit