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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Second charge mortgages

Free up money while leaving your current mortgage in place

A second charge mortgage - sometimes called a secured loan - can be a good option if you’d like to borrow money while leaving your current mortgage in place. The new loan is secured on your property and is available for many different purposes. It can allow you to avoid the cost associated with a re-mortgage – an option taken by many customers who are unaware of the second charge market.

Our approach at Shawbrook is to look at your individual circumstances and make decisions using a combination of human experience and technology. This personal way of assessing your application means we can often be more flexible and helpful than other lenders.

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What Mortgages - Best Second Charge Mortgage Lender 2014-15-16-17

What can I use a second charge mortgage for?

You can take out a second charge mortgage for all sorts of purposes. Some of the most common include;

    • Home improvements
    • Consolidate debts into one monthly payment
    • Business purposes (excluding start ups)
    • Deposit for additional property purchase (e.g. Buy-to-let or holiday home)
    • Payment of a tax bill
    • Wedding
    • Car purchase (maximum term is 5 years)
    • School fees
    • Transfer of equity
    • Lease extension



Benefits

Product Highlights

  • Raise the finance you need without having to remortgage
  • Borrow from £5,000 to £500,000 for up to 30 years*
  • Fixed, variable and tracker rates available**
  • Complete flexibility to repay your mortgage in full at any time
  • Overpayments can be made at any time. If you overpay the amount you owe, the amount of interest that you pay is recalculated. Your monthly payment will not change, but the term of the mortgage will reduce accordingly


* Subject to our lending criteria.


** At the end of the Fixed Rate Period the interest rate will change to a variable interest rate, which may be varied at the discretion of Shawbrook Bank. Our tracker rate mortgage follows the Bank of England Base Rate (BoEBR), however the rate is subject to a floor of 0.5% so that the BoEBR will always be considered to be at least 0.5% even if it is itself lower than 0.5%.

Product Highlights

Buy to Let Mortgages

Finance for limited companies, partnerships and individual landlords
At Shawbrook we’ll look at the value of your portfolio, making a decision based on experience and insight rather than just a formula.

Short Term Lending

Flexible funding for quick turnarounds
Our dedicated, expert short-term lending team could help you maximise your returns in the fast-moving property business.

Commercial Investment

Clarity in a complex world
Shawbrook Bank commercial mortgage products are typically used to purchase new investment properties, or to refinance existing properties or portfolios.

Property Development Finance

Supporting established developers in residential and mixed-use property.
Our experienced team can arrange finance for heavy refurbishment or ground up projects, helping build your business with a practical approach.

Owner Occupied Trading Businesses

Flexible mortgage options for owners and SMEs
If you’re starting a business in your own property, or you need to raise funds on the business property you own, our “owner-occupied” mortgage options could work for you.

Bridging Finance

Regulated mortgages to mend a broken chain
A short-term funding option, for when a delay leaves you unable to complete on a property purchase.

​Looking for a business mortgage?

If you’re looking for a mortgage or property finance for your business, we could be just what you need. The award winning Shawbrook product range supports buy-to-let landlords, property investors, developers and SMEs. We can provide specialist options for those looking to borrow in a limited company, a LLP, or as an individual. See our Business mortgage pages for more information on how we can help you.​

Business Links

A national network of professional intermediaries

Our mortgage products are available via a network of independent brokers - professional intermediaries whose job is to suggest the mortgage that’s best for you, and who can recommend products from any provider.

Although your application must be packaged and presented by an approved Shawbrook broker partner, we are happy to give you information about our products through this website, explain our products over the phone, or answer queries via email. So please feel free to get in touch.

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