Second Charge Loans | Additional Property Finance from Mortgage Centre

 

A second charge loan—also known as a second mortgage or homeowner loan—is a type of secured loan that allows you to borrow against the equity in your property while keeping your existing mortgage in place.

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This form of borrowing can be an ideal solution if you're looking to raise additional funds without remortgaging or if early repayment charges make switching your current deal costly.

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How Does a Second Charge Loan Work?

 

When you take out a second charge loan, it’s secured against your property in addition to your existing mortgage. Your first (primary) mortgage remains the priority loan, while the second charge sits behind it in the repayment order.

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You’ll have two separate loans and make two monthly repayments—one for each. Second charge loans can often be a suitable option if:

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• You want to borrow a larger sum based on your property’s equity

• You’re on a low fixed-rate mortgage and don’t want to remortgage

• Your credit rating has changed and remortgaging would mean higher rates

• You’re looking to consolidate debt or finance home improvements

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Expert Advice Through Our Trusted Associate

 

At Mortgage Centre, we work closely with a specialist partner who can provide professional second charge loan advice tailored to your financial situation and goals.

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They’ll assess your needs, explore available options, and help you understand:

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• Interest rates and repayment terms

• Eligibility criteria based on equity and affordability

• How the loan sits alongside your current mortgage

• Any fees or implications associated with securing a second loan

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Please note: Mortgage Centre refers second charge loan enquiries to a trusted third-party provider. We are not responsible for the advice given by this third party.

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Is a Second Charge Loan Right for You?

 

If you’re considering borrowing more and want to keep your existing mortgage deal, a second charge loan could offer the flexibility you need. Our team is here to help you explore your options and refer you to a regulated specialist for tailored advice.

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Contact Mortgage Centre today to learn more or get started with a second charge loan referral.

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Find out more about Second Charge Loans »