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Second Charge Rates

A cost-effective way of raising capital.

Last updated 21/09/2017

Residential Rates

Lender Initial Rate Until Max LTV Arrangement Fee Redemption Penalty Reversion Rate
4.20% 2 year tracker 65% £455 3%/2% BBR + 3.85% QUOTE
4.24% 2 year discount 65% £505 2%/1% 4.25% QUOTE
5.05% Variable 70% £450 None n/a QUOTE
7.00%* Variable 80% £620 None n/a QUOTE
7.65% Variable 75% TBA None n/a QUOTE
7.70% 5 year fixed 80% £650 None 7.7% QUOTE

*Tracker rates follow BoE base rate at the stated margin, UTB uses a minimum of 0.50%

Buy to Let Rates

Lender Initial Rate Until Max LTV Arrangement Fee Redemption Penalty Rental Cover
4.49% 5 year fixed 60% £0 3%/3%/2%/2%/1% 125% @ 4.49% QUOTE
4.79% 2 year fixed 65% 1.5% 2%/1% Dependent on terms QUOTE
6.74% Variable 75% 2.5% 4%/4%/3%/2%/1% 125% @ 6.74% QUOTE

Use your equity

Second charge mortgages (or secured loans) are secured against your existing property and allow you to use your equity to raise finance.

Different lenders have different criteria, but second mortgages can be a cost-effective way of raising capital for a variety of different purposes, e.g. tax bills, home improvements, school/university tuition, business investment, debt consolidation, luxury purchases.

Why consider a second charge mortgage?

  • To capital raise from existing investment properties;
  • In order to keep a competitive rate on your first charge mortgage;
  • To avoid high ERCs on a current mortgage;
  • If your credit status has changed;
  • When funds are needed quickly;
  • Maybe a remortgage or further advance has been declined;
  • If you are stuck in debt management.

The Buy to Let Business can help you find the best product for your circumstances. Above are just a few of our current rates.

We're here to help.

Unsure of what kind of buy to let mortgage you're looking for? Professional mortgage advice is more important than ever. Call us. We're looking forward to hearing from you!