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Second charge mortgages

Free up money while leaving current mortgage arrangements in place

A second charge mortgage - sometimes called a secured loan - can be a good option if your clients need to borrow money while leaving their current mortgage in place. The new loan is secured on their property and is available for many different purposes. It can allow your client 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 their individual circumstances and make decisions using a combination of human experience and technology. This personal way of assessing the application means we can often be more flexible and helpful than other lenders.

 

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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

Already a partner?

If you’re already a Shawbrook Broker Partner and have an enquiry regarding a current or new deal, please feel free to fill out the enquiry form. Alternatively, please access the Broker Hub to view your caseload.

Become a partner

If you would like to become a partner, or have a potential case you would like to discuss with our team, please get in touch.

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