Acerca de

Hygiene Products

Second Charge Mortgage 

Second Charge Mortgage 

A second charge is not a further advance against your home. See the further advance section below for an explanation as to what a further advance is. 

The difference between what your home is worth and the amount you owe to your mortgage lender is known as the “equity in your home. In simple terms, for example, if your home is worth £300,000 and the mortgage outstanding is £200,000 then you have approximately £100,000 equity in your home, not taking into account any other charges or fees that may be payable. 

In some circumstances, for example, to pay for an extension on your home, you may wish to secure more borrowing against your home against that increased equity and in doing so a second mortgage lender will take security for their loan against the equity in your home. The lender could be your existing lender or a new lender altogether. 


These types of mortgages are more specialised and you should take greater care in taking out a second charge against your home. 

Do you need help with your mortgage?

Speak to one of our qualified advisors now

0333 34 44 34 8