Second Charges

A second mortgage can be a low cost alternative to an unsecured loan or a re-mortgage when raising funds for virtually any purpose. Working in the same way as your first mortgage and governed by the same rules a second mortgage can be useful where:

• You are locked in to your current mortgage deal by early repayment charges or simply a great product or rate
• Your circumstances have changed since your original borrowing and re-mortgage rates are unattractive
• The extra amount you want to borrow is small in relation to your existing mortgage, but it means all of your borrowing will attract a higher interest rate
• You want a longer term to repay the loan, reducing the monthly repayment to fit a budget

Second mortgages are available to homeowners and landlords and can be secured on owner occupied property and Buy to Lets. They can be quick to arrange and typically come without any up front fees or hidden costs

Please contact us for further information.