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Second Charge Mortgages
also known as Secured Loans

This product is effectively another mortgage on your home and as the name suggests it’s a second charge on your home and sits behind your first mortgage.

If you are looking to borrow money to consolidate some existing debt, fund a home improvement project, finance a major purchase or a combination of the above, a Secured Loan could be the solution you need.

Homeowners can borrow up to £2.5m with terms available up to 30 years.

Rates start at 3.75% and fixed rates are available.

Secured Loans, also known as homeowner loans, are loans secured against your property, which means lenders see you as less risk, may charge lower rates than a personal loan and have a higher acceptance rate.


How much can I borrow on a second charge mortgage?

You can borrow any amount from £10,000 to £2,500,000 depending on the amount of equity you have and your ability to be able to afford the repayments.

Are secured loans expensive?

Rates start at around 3.75%, if you have a less than perfect credit file a secured loan may still be possible with adverse rates starting at just 4.04%.

What is the maximum loan to value possible with a second charge loan?

You will be able to borrow up to 95% of the value or home. For example, if your home is valued at £200,000 and you have a mortgage for £100,000, you potentially could arrange a secured loan for £40,000.

What can a secured loan be used for?

You can arrange a secured loan for any legal purpose, this includes consolidating unsecured debts such as credit cards, home improvements, a deposit for a buy-to-let property or any business purpose.

Can I redeem my secured loan at any time?

Yes, we generally write the erm of a secured loan up to 25 years to make the payments affordable, but the average shelf life of a secured loan is less than two years. When you come to remortgage your home, it’s not unusual to consolidate the remaining balance of your secured loan into your new mortgage.

Self-employed or retired?

Being self-employed or retired won’t stop you getting a secured loan as long as you can evidenced that you can afford the monthly repayments.

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