Second charge mortgages

Borrowing extra funds on your home

Second charge mortgages

Second charge mortgages are an additional mortgage on your property, and will be secured on your home. It is a great option if you have a good deal on your current mortgage and want to borrow extra funds without affecting your main mortgage. You can borrow anything from £1,000 upwards subject to affordability.

Reasons you may want to take out second charge mortgages

  • You are on a low rate with your current mortgage and need to borrow extra funds without affecting it.
  • When you are tied into your main mortgage and will have to pay large redemption penalties.
  • You are unable to re-mortgage due to credit status changes.
  • You want a longer term than you existing mortgage to make you payments cheaper.
  • If you have an interest only mortgage.

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