Secured Loans

Second Charge Loans

A second charge loan provides an efficient way to tap into the equity of a property you already own. It’s perfect for purposes such as debt consolidation, funding home renovations, or as a substitute for remortgaging.

Given that mortgage rates are at historically low levels, if you’re on a competitive tracker or your lender’s standard variable rate, remortgaging might not be the most affordable way to access additional funds. With a second charge loan, you can raise capital without disrupting your current mortgage rate.

  • Loans ranging from £25k to £2.5m
  • No early repayment fees on secured residential property loans
  • Available to homeowners and landlords only
  • Secured by a second charge on the property
  • No upfront fees
  • We consider all situations

Get in touch today! Call us at 0141-424-0267

Second Charge Secured Loans

A second charge secured loan, commonly known as a second charge mortgage, is a loan backed by the equity in a property you own. The loan is secured through a second charge mortgage, which is subordinate to the primary (first charge) mortgage, meaning it does not impact the first mortgage.

Are you eligible for a second charge loan?

Second charge secured loans may be considered under these conditions:

  • You need to be a homeowner, though living in the property isn’t required.
  • Loans can be secured against residential, buy-to-let, or commercial properties.
  • You must have available equity in your property to secure the loan.
  • You must prove your income and ability to repay the loan.
  • Applicants must be at least 18 years old, and the property must be located in the UK.
  • Applications from overseas are also welcome.

Uses of a Second Charge Secured Loan

Secured loans can be used for a variety of legal purposes, including:

  • Settling tax bills
  • Raising a deposit for property purchases
  • Securing funds for business investment
  • Home improvements
  • Debt consolidation
  • Weddings
  • School or university fees
  • Car purchases
  • Dream holidays

How FCS Can Assist

With more than 20 years of experience and master broker status, Charleston specializes in arranging commercial mortgages and re-mortgages with loan-to-value (LTV) ratios up to 80% without requiring extra security. When additional security is provided, Charleston can secure mortgage loans up to 100% LTV based on the property’s value or purchase price.