If you want to take out another second charge mortgage against your home with another lender, you will need to redeem your existing loan with Shawbrook so that your new lender can take a second charge behind your mortgage lender.
When we register the second charge mortgage against your home, we also register a restriction that prevents any other subsequent charges being registered against your property without our consent. This request is subject to application and review.
There are a number of things we will consider when reviewing your application, such as your account conduct, the total level of lending against your home and total debt affordability. If your application does not meet with our criteria, we will not be able to approve your application.
What does this application involve?
We will only complete this if you have given us permission. There is an additional administration fee of £50 for this service.
How can I pay these fees? Are they refundable if you don’t approve my application?
The administration fee is payable at the start of the application. As this fee is payable to cover the cost of dealing with your application, these fees are non-refundable whether the matter is approved, declined, or cancelled once we have assessed the application.
You can call us on 0345 650 6287 (8am to 8pm Monday to Thursday, 8am to 6pm Friday and 9am to 2pm Saturday, excluding Bank Holidays). To make a debit card payment, or alternatively send a cheque payable to Shawbrook Bank Ltd to our Customer Services Team.