SECOND CHARGE MORTGAGES


Borrow money and leave your existing mortgage in place

If you are looking to borrow money, a second charge mortgage could be a good option. It enables you to raise the money you need, while leaving your existing mortgage in place. 

What can I use a second charge mortgage for?

  • Home improvements
  • Buy-to-let property purchase
  • Consolidating outgoings into one monthly repayment
  • Children's tuition fees
  • Lease extension
  • Deposit for a property purchase
  • Transfer of equity
  • Exit for an existing bridging facility
  • Business purposes 
  • A wedding
  • Payment of a tax bill
  • Expanding a property portfolio 
  • A classic car

Second charge mortgages can be used for an almost endless list of purposes, so whatever your dreams are, contact us to see if we can help you to make them a reality.

Think carefully before securing other debt against your home. Your home may be repossessed if you do not keep up with repayments on your mortgage.

How much can I borrow?
With a second charge mortgage it is possible to borrow from as little as £3,000 right the way up to £1,000,000 (may consider more by referral).

How long is the mortgage term for?
Second charge mortgages work similarly to mortgages in that you can borrow over a longer term.  We offer terms from three to 25 years.

How do I find out more about a Shawbrook second charge mortgage?
Please visit our Frequently Asked Questions (FAQs) page, alternatively please contact our Residential Mortgages team on 0345 600 7681 who will be more than happy to help. If you are an existing customer and would like to borrow further on your mortgage, please contact our customer enquiry line on 0345 650 6287.

A second charge mortgage is secured on your home
A second charge mortgage requires you to provide your home as security. This means we take a legal charge over your property, like a mortgage provider does. This will be removed once the mortgage is fully repaid. When you take out a second charge mortgage, you still own your property. We are a responsible lender and want to make sure you can afford the repayments on your second charge mortgage, but this security means, as a last resort, should you be unable to repay the mortgage we would repossess your property to recover our loss.

We only accept applications via FCA authorised Intermediaries. To learn more about Shawbrook and how we can help you, please give us a call or speak to your broker. If you do not currently use a broker, please call our team on 0345 600 7681 and we will provide you with a list of options.  

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