Second Charge Mortgages

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 Early Repayment Charges 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.

ALL MORTGAGES ARE SUBJECT TO STATUS AND LENDER CRITERIA.
MOST BUY TO LET MORTGAGES ARE NOT REGULATED.
A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL CONSULTATION.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.

Copyright © 2017–present, The Buy to Let Business Limited. All Rights Reserved. The Buy to Let Business Limited (including its trading names Dynamo, Dynamo for Intermediaries and The Good Mortgage Company) is registered in England and Wales under company number 05695802. Trading office: Building Eight, Watchmoor Park, Camberley, Surrey, GU15 3YL, UK. Registered office: Countrywide House, 6 Caldecotte Lake Business Park, Caldecotte Lake Drive, Caldecotte, Milton Keynes, United Kingdom, MK7 8JT. VAT Registration Number: 500 2481 05. For activities relating to regulated mortgages and non-investment insurance contracts, The Buy to Let Business Limited is authorised and regulated by the Financial Conduct Authority, Financial Services Register number 472199. Please note that we are a broker and will act on your behalf to liaise with a mortgage lender or insurance provider.

Second Charge Mortgages

Use your equity

Why consider a second charge mortgage?

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