Second charge loans

Free up capital from your property

A second charge mortgage is a secured loan that allows you to use the equity in your property. Once secured this means you will have two mortgages on your property. This type of loan is an ideal alternative to a re-mortgage or other types of unsecured finance. However, please remember you will have two lots of mortgage debt and you may end up paying a higher rate of interest than for an ordinary secured loan.

A second charge loan can be a great option for clients looking to raise additional funds using their main home or investment property. A client with an existing low rate; fixed term product with large exit penalties or who currently fall outside their current lenders policy could find this option beneficial. Your credit file, personal situation and equity in the property will determine the rate and choice of lender.

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Mortgage London is a trading style of City Finance Brokers Limited which is authorised and regulated by the Financial Conduct Authority. Registered office address: Tower 42 Tower 42, 25 Old Broad Street, London, England, EC2N 1HN. Registered in England and Wales, Company number 09881116. Some types of bridging, development, commercial and buy to let mortgages may not be regulated by the Financial Conduct Authority. AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.