If you already have a mortgage but want additional funds, a Second charge mortgage may be the answer

Second charge mortgages can provide you with additional capital for home improvements or other expenses

These may have previously been referred to as second mortgages, homeowner loans, a second charges or further charges. Whatever they are called, the principle is the same – you borrow the money and your home (or other asset) gives the lender the necessary security.

Key to your Mortgage work with a number of specialist partners who are authorised to provide Second charge mortgages, to give the very best value, and the right products.

Second charge mortgages generally give the lender the right to repossess your home if you aren’t able keep up your repayments, and if your home were to be repossessed, the money from the sale would be distributed to the lenders in the sequence that the loans were given.

When you take out a Second charge mortgage there may well be legal, administration, valuation and other fees so it’s really important to get professional advice on the best deal before making any decision.

Second charge mortgages are usually only available to people who own their own homes, and can be used to borrow between £5,000 and £125,000. However, the amount you can borrow, the term and the interest rate you will pay will depend on your personal circumstances and the amount of equity you have in your property.

At Key to Your Mortgage, we always look at things from your point of view, and add our own knowledge and experience to come up with the best solution for you and your loved ones.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.


For an initial chat, please call me, Nick Lofthouse, on 01707 470061. Alternatively drop me a line at enquiries@keyfinancialadvice.com.

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