Second Charge Mortgage
What are second charge mortgages and secured loans?
As your local second charge mortgage brokers, we can provide you with guidance on second charge mortgages. Basically, second charge mortgages are often called second mortgages (or secured loans) because they have secondary priority behind your main (or first charge) mortgage. They use the borrower’s home as security, just the same as a traditional main mortgage from a high street bank or building society would.
Second charge mortgages are offered by less well known financial institutions, as well as high street lenders. They are now fully regulated just like the traditional mortgages available from the more commonly known high street lenders.
Why consider a second charge mortgage?
When you wish to consider other options in addition to a remortgage or further advance, we can prepare a second charge mortgage quotation for you in minutes. Second charge mortgages offer value to clients who are:
- Tied into a mortgage with redemption penalties.
- Benefiting from an existing low mortgage rate but wanting to raise capital.
- Being offered a further advance with a higher rate.
- Currently on an interest-only mortgage product.
- Wishing to capital raise for business purposes, including deposits for buy to let mortgages.
- Needing to pay a tax bill.
- Keen to retain their current mortgage product but have historic adverse credit.
- Recently self-employed, retired or receive income from multiple sources.
- Lenders sometimes offer a more flexible view on circumstances or affordability than a traditional lender.
Contact us today to speak to our second charge mortgage brokers regarding further information on second legal charge on properties.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up the repayments on your mortgage.
Mortgages from over 50 lenders
Over 17 years Experience With Excellent Customer Service
5* Reviews from Satisfied customers
“Stuart and Sharon have arranged a buy-to-let mortgage, a mortgage for our first home together, a re-mortgage and have now helped us port over our mortgage to a new house. The service they have provided has been consistently amazing, especially as our purchases have never been straight forward. I would recommend them to anyone.” Dominic, Surrey
“Stuart was recommended to me by a friend and I would certainly continue that recommendation. He is very thorough and ensures you know all the options. Stuart makes the process clear and you feel informed the whole way. Thanks Stuart” Danielle C, Hemel Hempstead
“Stuart is an expert in his field, giving great objective advice after careful and deliberate diagnosis of what we were after. I can confirm he is also a very patient man. Highly recommended!” Alex C, Leighton Buzzard
“Remortgage quickly sorted out today via phone/email. All options explained and discussed and I’m very happy with the outcome. Thoroughly recommend.” Craig B, Sunny Scotland
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