Commercial Mortgages and Loans

A network of advice services helping you with your business or commercial financial matters

When a mortgage isn't right, a secon-charge might work. contact us.

Second-Charge Loans

When should you consider a Second Charge or Secured Loan?

You need to draw down on the equity on your property for debt consolidation purposes, in order to pay a tax bill, to re-invest in the business or to expand it. In fact, there could be a wide range of reasons why you need to release capital.

If, however, you have an existing First Charge mortgage and it is on a very low interest rate or you have incurred some adverse credit history since taking out that mortgage, it may not be wise or even possible to remortgage.

In that event, the additional required borrowing could be taken as a Secured Loan leaving the existing mortgage in place.

The amount that you can borrow will still be determined using the Second Charge lender’s affordability and status criteria.

Call us to explore the options available to you if you think a Second Charge is appropriate.