[vc_row full_width=”stretch_row” el_class=”cutom_header” css=”.vc_custom_1623239786280{padding-top: 150px !important;background-image: url(https://journeymortgages.com/wp-content/uploads/2020/11/mortgage-loan-for-property-uk.jpg?id=1854) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_custom_heading text=”Second Charge Mortgage” font_container=”tag:h4|text_align:center” use_theme_fonts=”yes” el_class=”cust_tex”][/vc_column][/vc_row][vc_row full_width=”stretch_row” css_animation=”fadeInLeftBig” css=”.vc_custom_1593328108865{padding-top: 60px !important;padding-bottom: 60px !important;background-color: #f8f8f8 !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_custom_heading text=”Second charge or Second Mortgages UK” font_container=”tag:h1|font_size:33px|text_align:left|color:%23000000″ use_theme_fonts=”yes” css=”.vc_custom_1646331482185{margin-top: -13px !important;}”][vc_column_text]
If you need to raise additional funds without re-mortgaging or taking out a personal loan, then the second charge option could be right for you.
[/vc_column_text][vc_custom_heading text=”What is a second charge mortgage?” font_container=”tag:h2|font_size:30px|text_align:left” use_theme_fonts=”yes”][vc_column_text]
A second charge mortgage works by securing a loan against the equity in the homeowner’s existing home or property. This enables the homeowner to raise capital without taking out a loan or re-mortgaging their existing home or property.
Why you might consider a second charge mortgage:
– You need to secure a loan quickly
– You are not able to get a loan elsewhere
– You would like to make some home improvements
– You need a deposit for another investment, and you need to move quickly
Would you like to learn more about the second charge mortgage? We are on hand to assist and, as an independent mortgage broker, we have access to a comprehensive market, and can offer you the competitive rates.
We are here to assist you with advice. We can even look at a rate that you have been currently offered to see if we can provide something more affordable, or in line with your financial goals.
Attention: Late repayments can cause you serious money problems. For help go to moneyhelper.org.uk
[/vc_column_text][vc_empty_space alter_height=”small” hide_on_mobile=””][trx_sc_button icon_type=”fontawesome” link=”https://journeymortgages.com/insurance/” title=”Insurance Information”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”FAQ” font_container=”tag:h1|text_align:center” use_theme_fonts=”yes” el_class=”rr”][vc_empty_space height=”2.2em” alter_height=”none” hide_on_mobile=”1″][vc_empty_space height=”2em” alter_height=”none” hide_on_mobile=”1″][/vc_column][/vc_row][vc_row][vc_column][vc_tta_accordion shape=”square” active_section=”1″][vc_tta_section title=”What is a Second Charge mortgage?” tab_id=”1593327979015-1b2fb538-7e06″][vc_column_text]A second charge mortgage works by securing a loan against the equity in the homeowner’s existing home or property. This enables the homeowner to raise capital without taking out a loan or re-mortgaging their existing home or property.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How long does a second charge mortgage take?” tab_id=”1593327979039-628d9026-5a90″][vc_column_text]Second charge mortgages can be agreed and completed within a matter of weeks, if all the information and documents are satisfied.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Is a second charge mortgage a good idea?” tab_id=”1593328030612-5594cac1-3b85″][vc_column_text]Depending on the situation, second charge loans are a good idea if you need to quickly raise additional funds and are unable to do so from your existing mortgage provider as you may be in a fixed rate period with expensive early repayment charges.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How much can I borrow on a second charge mortgage?” tab_id=”1615131657071-0fead682-2d56″][vc_column_text]This all depends on the property value and the amount of the existing mortgage on the property.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Is it hard to get approved for a second mortgage?” tab_id=”1615131691551-4f19305a-9e83″][vc_column_text]Obtaining a second charge mortgage follows a very similar process in obtaining a first charge mortgage, whereby the income and affordability will play a factor in determining whether or not you are eligible for a second charge.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row]