Second Charge Mortgages

Also known as a secured loan is secured by way of second charge on a residential property.


The first mortgage stays in place and the equity between the value of a property and the outstanding mortgage balance can be used as security for a second charge.

Since the Mortgage Credit Directive was introduced in 2016, if a client is looking to raise funds and approaches a mortgage adviser for help, that adviser must now consider second charges as a viable lending option.

The advisor can then compare the benefits alongside either a remortgage or a further advance and unsecured credit.


Do you:

  • Have an excellent mortgage rate?
  • Have an interest only mortgage?
  • Have some adverse credit information or recent arrears that would prevent you from obtaining a remortgage?
  • Wish to consolidate unsecured credit?
  • Have a mortgage with restrictive or heavy ERC’s?
  • Require funds for a purpose not generally welcome through a remortgage (i.e. clear a tax bill)?
  • Have only recently become self-employed (i.e. 6 months +)?
  • Intend to redeem any proposed lending within a specific timeframe?
  • Want to consider their options with a ‘soft’ credit search only undertaken?
  • Want to borrow beyond your expected retirement age?



Contact us to discuss your situation.

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