A secured loan is where you borrow money that is secured against your home. This is where you secure additional borrowing against your property with a different lender, whilst keeping your main mortgage. Unhelpfully, secured loans are also known by a host of other names, such as homeowner loans, second mortgages and second charge mortgages.
A second charge mortgage can help homeowners consolidate debts, raise money to make home improvements, or buy an additional property.
It’s particularly useful for those who don’t want to change their primary mortgage deal but still want to raise additional funds.
You need a mortgage broker to get a second charge on your property. This is because they’re specialist mortgages that require bespoke advice and involve specialist lenders. Using an independent mortgage broker like CoG Financial gives you access to expertise and industry knowledge that you need to find a suitable solution.
We want to ensure that you have the best understanding and knowledge when it comes to planning your future.
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