Commercial & Specialist Finance Solutions

A second charge mortgage allows you to borrow against the equity in your property while keeping your current mortgage in place.

The loan is secured against your home, sitting behind your first mortgage, and is repaid over an agreed term through monthly payments. In the UK, second charge mortgages are commonly used where remortgaging isn’t suitable or early repayment charges apply.

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Key Features of a Second Charge Mortgage

Loan Amount
Borrowing typically starts from £10,000, with higher amounts available depending on equity and affordability.

Loan Term
Terms usually range from 1 to 30 years.

Interest Rates
Rates vary based on loan size, credit profile and loan-to-value.

Repayment Type
Monthly repayments, similar to a standard mortgage.

Security
Secured against your property, in addition to your first mortgage.

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Common Uses for a Second Charge Mortgage

Home Improvements
Funding extensions, renovations or major works.

Debt Consolidation
Combining existing debts into a single monthly payment.

Property Purchases
Raising a deposit for a second home or investment property.

Business or Investment Use
Accessing capital without remortgaging your main loan.

Personal Funding
Covering tax bills, school fees, weddings or family gifts.

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Factors That Affect Second Charge Mortgage Terms

Available Equity
The amount of equity in your property is a key consideration.

Income & Affordability
Lenders assess whether repayments are comfortably affordable.

Credit History
Some lenders consider adverse credit, depending on severity and overall profile.

Loan Purpose
How the funds are being used can influence lender choice.

Property Type
Residential and buy-to-let properties are both considered.

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Why Use a Second Charge Mortgage Broker?

Many second charge lenders operate exclusively through brokers. A broker can:

• Access a wider range of lenders

• Match you with the most suitable product

• Handle the application and paperwork

• Present your case clearly to lenders

• Help secure better or more flexible terms

This is especially valuable where income is complex or credit history isn’t perfect.

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Is a Second Charge Mortgage Right for You?

A second charge mortgage may be suitable if:

• You want to avoid remortgaging your main loan

• Early repayment charges apply to your current mortgage

• You need a flexible borrowing solution

• You want to raise funds quickly

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Speak to a Second Charge Specialist

If you’re considering a second charge mortgage, we can review your options and provide clear, practical advice.

Contact us today to discuss your requirements and get a no-obligation quote.