Second mortgages

Second mortgages, often called second charge loans or secured loans, are only available to homeowners.

People mostly use second mortgages to pay for home improvements, to reduce monthly outgoings by consolidating existing finance or to pay for special events such as weddings but they are available for almost any purpose.

Second mortgages typically offer larger loan amounts, lower interest rates and longer payback periods than many short term unsecured loans.

Calculate and apply

Loan Amount

£
Repayment period

years

Monthly repayment
£
Total repayable
£

?
variable

The loan example above include a £395 lender fee and a 7% broker fee and is for illustration purposes only. Loan rates are dependent on individual circumstance and criteria. Interest rates and fees are different in Northern Ireland.

Representative Example: Amount of loan: £20,000, Interest rate: 15.9% per annum, variable, A lender fee of £395 and a broker fee of £1,400 are to be added to the loan amount, Annual Percentage Rate of Charge (APRC) 19.3%, Loan term: 15 years, 180 monthly payments of £318.59, Total amount payable: £57,342.58.