Second charge lending expands

The majority of homeowner at some stage of ownership will want to raise extra cash for a venture they have in mind. Raising those funds can be very confusing as many people just do not understand what options are available to them. Ever more popular these days is to raise funds secured on the family home, known as a second charge which is a loan that sits behind the current mortgage secured on the property.

Getting advice

Very simply the best thing to do if you wish to borrow money is to get independent advice from a fully qualified broker, the independent broker will have access to all loans available to you and will guide you in the correct direction.

Second charge market  

Much has been said about the upward trend of the second charge sector over the past year. Brokers and clients alike continue to be surprised at how competitive the rates of interest are plus the wide range of products on offer.

Since the implementation of the Mortgage Credit Directive there has been a significant increase in lenders entering the second charge sector. These fresh players have helped to reduce annual interest rates through the increased competition they bring.

Currently the cheapest published rates on offer are just a little over 4% with some lenders offering the potential to secure even cheaper rates based on risk, second charges provide a valid alternative for clients looking to raise additional funds against their property.

Range of deals on offer


Not so long ago in the “seconds market” there was not even a fixed-rate option available, with every second charge product at the lender’s standard variable rate. The fact that discounted and fixed rates have been added to product ranges is testament to the progress of the sector in a relatively short period.


If you are looking to raise funds against your property please make contact and one of our advisers will be happy to assist.