Second Mortgages
Loans from £5,000 up to £1 million
- All credit profiles considered
- Help with any legal purpose
- No surprises or hidden fees
- Enquiring will not impact your credit score
- Flexible terms from 3 to 30 years
Loans are secured against property - your home may be repossessed if you do not keep up with repayments.
We specialise in mortgages from a range of lenders outside the high street, which can be ideal if high street options aren’t the right fit for you.
What is a second mortgage?
A second mortgage, also known as a secured loan, is a funding option that uses a property as security.
Because the loan is secured against your home, lenders face less risk, meaning you could:
- Have a better chance of being approved.
- Borrow a larger amount of money.
- Qualify for a lower interest rate, compared to unsecured loans.
However, failing to keep up with repayments could put your home at risk of repossession.
We offer flexible, fast second mortgage options through a wide panel of lenders across the UK, so we may be able to help you.
Our loans range from £5,000 up to £1 million, with both fixed and variable interest options available.
Is a second mortgage a good idea?
It depends on your personal situation and what you need the money for. Common reasons for choosing this option include:
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Remortgage rates are expensive - If new mortgage rates are higher than your current one, remortgaging to raise extra funds could increase your overall costs. A second mortgage lets you borrow extra funds while keeping your existing deal.
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Avoid early repayment charges – Some lenders charge fees for repaying a loan or mortgage early. Taking a second mortgage out for the extra funds lets you keep your current mortgage and avoid these charges.
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Unable to get unsecured funding – Unsecured loans have stricter criteria since there’s no asset as security, making approval tougher, especially with complex circumstances. Second mortgage lenders tend to be more flexible and may offer solutions when others can't.
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Funding large projects – A second mortgage lets you borrow between £5,000 and £1 million, making it a suitable option if you need financing for a major plan.
How much can I borrow on a second mortgage?
Terms on this type of loan vary between different lenders. However, typically they have longer repayment periods available, compared to some other borrowing options. This may allow you to have some flexibility over your monthly payments.
Our team have access to a wide range of lenders and products, with terms ranging from 3 to 30 years. Therefore, it is possible that we have a product available that has a suitable monthly repayment term for you.
Our second mortgage lenders
What are the borrowing terms on a second mortgage?
- Your credit profile
- The amount of equity in your property
- Your income
The amount you can borrow depends on your individual circumstances. Key factors we consider include:
We use these to ensure we find an affordable loan that fits your needs. Our experienced advisors will guide you through this process, helping you understand how the product matches your situation.
With loans ranging from £5,000 to £1 million, we offer solutions suited to a wide variety of financial goals.
What are the rates on second mortgages?
The interest rate that you will be able to get will depend on the amount of money you want to borrow, the repayment term, and some other factors such as your credit history and how much finance you can afford to repay.
As a second mortgage broker, we deal with many different lenders. This means we can provide competitive second mortgage rates, with both fixed and variable options available.
Our main goal is to get you a competitive interest rate for your circumstances, so we will do everything we can to achieve this.
How do I apply for a second mortgage?
Applying is simple. You can begin the process by phone, or you can start to apply for secured loans online. Here’s an overview of how it works:
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Step 1: Think about what you need
Before applying, take some time to consider how much you’d like to borrow and over what term.
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Step 2: Get in touch
You can either call one of our experts to discuss your needs or fill in the online enquiry form, and we’ll call you.
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Step 3: We’ll try to find a solution
Our advisors will work with you to try and find a suitable option from our panel of lenders.
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Step 4: Make your decision
If we find a loan, our team will go over it with you. The final decision is yours. If you're happy, you can proceed to get your funds.