A second charge mortgage is a second or subsequent charge that allows the equity in your property to be used as security. The mortgage is left in place and a 2nd charge is taken by the lender for the amount borrowed. Rates of interest are often lower than those charged for unsecured loans and are available for the employed and self employed including individuals with a low credit score or poor credit history.

Second Charge Mortgages can be an ideal solution to consolidating debts, especially if redeeming your existing mortgage incurs penalties or you are on a low interest rate.