If you’re a homeowner looking to raise additional funds without changing your existing mortgage, a second charge mortgage could be the right solution. At Richmond Financial, we provide expert, independent second charge mortgage advice to help you access the money you need while keeping your current mortgage deal intact.

Second charge mortgages — also known as secured loans — are often used for home improvements, debt consolidation, business purposes, or major life expenses.

What Is a Second Charge Mortgage?

A second charge mortgage is a loan secured against your property, in addition to your main (first charge) mortgage. Your existing mortgage remains in place, and the second charge lender takes a secondary position on the property.

This type of borrowing may be suitable if:

• You’re on a low-rate or fixed mortgage and don’t want early repayment charges

• You need to borrow a larger sum than unsecured lending allows

• Your credit profile or affordability limits remortgage options

• You want faster access to funds

The amount you can borrow depends on your property value, outstanding mortgage balance, income, and credit history.