With a second charge mortgage, you can secure a loan against your property while maintaining your existing mortgage. This type of mortgage functions similarly to a regular mortgage, requiring monthly repayments until the loan and interest are fully paid off. The advantage, however, is that you can access funds for various purposes without disrupting your current mortgage arrangement. Whether you need funds for home improvements, debt consolidation, or a buy-to-let deposit, a second charge mortgage can be an ideal alternative.
Opting for a second charge mortgage can be a more cost-effective borrowing option, especially when compared to re-mortgaging or other types of unsecured loans. With attractive interest rates available, it offers a viable solution, particularly if your first charge mortgage entails high early redemption charges or if you have a favourable interest rate that you wish to retain.
If you have faced rejection from your current mortgage lender for a re-mortgage or further advance due to bad credit, there’s no need to despair. We collaborate with lenders who specialize in offering competitively priced second charge mortgage products tailored to borrowers with current or past bad credit. Our team has access to the 180 lenders, ensuring that we can secure the best deal for you. Rest assured; we are committed to finding the most suitable solution for your needs.
Contact us today to explore the possibilities of a second charge mortgage and discover the competitive rates and favourable criteria available to you.
“We do not offer this service personally but can refer you to our third party who will be happy to help you”
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