Second Charge Mortgages
Introduction
A second charge mortgage is a loan secured against a home that already has an existing mortgage (first charge) secured against it. Homeowners take out second charge mortgages for all sorts of reasons, ranging from debt consolidation to home improvements to deposits for investment properties.
A second charge can be a useful way of raising extra funds, usually £20,000 to £500,000. Second charges are usually cheaper than unsecured personal loans and may be cheaper or make more sense than a remortgage if you are tied into your existing deal with Early Repayment Charges.
The number of people taking out second charge mortgages has been growing strongly in recent years as the interest rates charged on these deals has been falling since 2010.
How to
How second charge mortgages can help older borrowers
Second charge mortgages can provide useful finance for the over-forties who may ...
How second charge loans can help interest-only borrowers
There are almost three million mortgage borrowers in the UK with interest-only d...Guides
Guide to second charge mortgages
Consult our handy guide to find out what a second charge is and the circumstance...
Guide to remortgaging pitfalls
It may seem like remortgaging is an easy way to save money, especially if you ha...News
Extend your home or move? What would you do?
New planning rules make it easier to extend, but is it always the best option?
Second charge lending breaks £100m for third straight month
Second charge mortgages enable you to borrow funds secured against your home on ...
Second charge sees busiest month since 2008 as strong 2019 continues
The mortgages - also known as secured loans - enable borrowers to raise funds in...
Surge in second charge mortgage lending
Homeowners are choosing to improve rather than move, and taking second charge de...
Half of homeowners planning a DIY project before Christmas
The great British DIY frenzy has started, as we do up our homes to impress Chris...
Brits raid savings to pay for home improvements
From painting and decorating to extensions, we are shrugging off Brexit woes to ...Most Read
Sorry. No data so far.
In Depth
Guide to second charge mortgages
Extend your home or move? What would you do?
Brits raid savings to pay for home improvements
The UK’s top 10 DIY projects revealed
Avoid these costly DIY disasters!
10 top tips to add value to your home
Your Mortgage Guides
Your Mortgage Award Winners 2018-2019
Download our guide to the best mortgage lenders in the UK
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.