4.8 Out of 5
Second Charge Mortgage Broker
- A second charge mortgage lets you borrow against the equity in your home while keeping your existing mortgage in place. It's often the right option when remortgaging would trigger early repayment charges or when you need to raise capital quickly.
Raise Capital Against Your Home Without Touching Your Existing Mortgage
A second charge mortgage, also known as a secured loan, is a loan secured against a property that already has an existing mortgage. The second charge lender sits behind the first charge lender in priority — meaning if the property is sold to repay debts, the original mortgage is repaid first.
A second charge is often the most practical option when you want to raise capital but remortgaging is not straightforward — for example, if you are locked into a fixed rate with significant early repayment charges, or if your circumstances have changed since you took out your original mortgage.
Common uses include home improvements, debt consolidation, raising a deposit for a second property, or funding business costs. Because the loan is secured against your home, rates are typically lower than unsecured borrowing, though it is important to understand that your home is at risk if you do not keep up with repayments.
As an independent broker, we work across the full market to find the most suitable second charge product for your situation, including options for borrowers with adverse credit.
Product Features Include:
- Borrow against your existing equity without remortgaging
- Combined LTV up to 85–90%, subject to lender and property assessment
- Use for any legal purpose — home improvements, debt consolidation, business use
- Self-employed and complex income accepted
- Adverse credit considered, subject to lender assessment
- FCA-regulated — full consumer protections apply
Case studies
Some of our projects
Land Bridge for 220 Apartments
£10,400,000
Airspace Development
£1,200,000
CBILS Refinance for 4 Detached Houses
£3,400,000
Enquiry to Completion in 4 weeks
£3,600,000
our team
team of experts
FAQs
Common Questions & Answers
What is a second charge mortgage?
A second charge mortgage is a loan secured against a property you already own with an existing mortgage. It sits behind the first mortgage in priority, meaning the original lender is repaid first if the property is sold. It is also commonly called a secured loan. Second charge mortgages are regulated by the FCA when used for personal purposes on your main residence, which means you benefit from the same consumer protections as a standard residential mortgage.
When is a second charge mortgage better than remortgaging?
A second charge mortgage is often the better option when remortgaging your existing deal would trigger significant early repayment charges, when your original mortgage is on a rate that is lower than current market rates, or when you only need to borrow a relatively small additional sum and do not want to restructure your entire mortgage. We compare both options for every client and will tell you clearly which is likely to cost less overall.
How much can I borrow with a second charge mortgage?
The amount you can borrow depends on the equity in your property and your ability to afford the repayments on both your existing mortgage and the new loan. Most lenders will consider a combined loan-to-value (first charge plus second charge) of up to 85–90% of the property’s current value. The exact amount will also depend on your income, outgoings, and credit profile.
Can I get a second charge mortgage with bad credit?
Yes, in many cases. Second charge lenders often assess applications more flexibly than high street banks, placing more weight on the equity in your property and your ability to meet repayments than on a clean credit history. We work with a range of specialist lenders who consider applications with adverse credit, including missed payments, CCJs, and defaults.
Each case is assessed individually, and we will be upfront with you about what is achievable before you apply.
