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Second Charge Mortgages
Second Charge Mortgages from an award winning team
A second charge mortgage, a loan that is secured against a home, offers a great way to raise finance and provides a perfect alternative to a re-mortgage.
Shawbrook’s award winning team works closely with broker partners to offer a simple, smooth and quick solution to help you or your clients finance an almost endless variety of purposes.
- Home improvements
- Consolidating outgoings into one monthly repayment
- Children's tuition fees
- A wedding
- Lease extensions
- Exit of an existing bridging facility
- Transfer of equity
- Payment of a tax bill
- Expanding a property portfolio
- Business purpose
- Deposit for a property purchase
- A classic car
- The options are almost endless…
To access our range of second charge mortgages please call our sales team on 0345 600 7681.
We offer an award winning service to our customers and broker partners, together with a great product range.
Our regular second charge mortgage range:
The ‘regular’ range offers second charge mortgages that are secured against a prime residence
- Loans up to 95% LTV
- Loans from £3,000 to £1million
- Rates from 4.49% (on our base rate tracker product)
- Flexible terms from three to 25 years
- Variable and fixed rates with no early redemption penalties
We offer the facility to make overpayments free of charge with no cap in addition we allow you to pay the loan off in full, without penalty for all of our regular second charge mortgages. All that we ask is for 28 days' notice and for you to pay a discharge fee of £120 for England and Wales and £180 for Scotland, that will be added to the outstanding balance of your loan.
Our buy-to-let second charge mortgage range:
The ‘buy-to-let range offers loans secured against a residential investment property and offer a great solution for property investors looking to raise finance.
- Competitive rates from 7.45%
- Borrow up to £200,000
- 3 to 25 year term
- We will lend up to 75% of the property value
- Variable and fixed rates
- 110% rental income required
- Early repayment charges of 3% during the first five years, and 1% thereafter
- Over payments are allowed free of charge with no cap, allowing you the flexibility to reduce the balance down and remain in control of the early repayment as its applied to the closing balance and not the opening balance.
We only accept applications via FCA authorised Intermediaries. To learn more about Shawbrook and how we can help you, please give us a call or speak to your broker. If you do not currently use a broker, please call our team on 0345 600 7681 and we will provide you with a list of options.