Second Charge Lending are loans secured on your property from another source other than your lender. Many people use them as an alternative way to raise money often for home improvements. It’s where a loan secured on the property is given from a source other than the original lender.
The Second Charge Lender takes second priority to the first lender. This means if the property ever needs to be sold, the first lender will have first call on equity in the property.
As with any mortgage secured on your property, failing to repay it could mean you’ll lose your property.
We are not authorised to give advice on Second Charge Lending mortgages. However, if this is something that may be beneficial to yourself, we can make a referral to a specialist firm who specialises in this area.
Secured and unsecured loans are arranged by introduction only