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SECOND CHARGE MORTGAGES for School Fees
Give the gift of a private education
We offer a simple finance solution that enables you to give the gift of a private education. It offers children an unrivalled opportunity to fulfil their true potential, with average day but school tuition fees now exceeding £15,500 per academic year (source: http://www.bbc.co.uk/news/education-33535216).
With a Shawbrook second charge mortgage you can:
We offer a range of options, giving extra flexibility:
- Spread the cost of school fees with affordable monthly repayments
- Arrange the loan at any time, we are not restricted to school term dates
- Have the loan paid directly to you
- Borrow up to £1,000,000 for up to 25 years
- Leave your existing financial arrangements, including your mortgage, in place
- Raise additional finance to cover other large costs such as; home improvements, a new car or a family holiday
- Overpay the loan with lump sums without a cap or penalty, reducing the term of the loan and the interest payable
- Top up the loan at any time to cover unexpected expenses, such as school trips, instruments and uniforms
- Pay the loan off in full with a discharge fee of £120 for England and Wales and £180 for Scotland, added to the outstanding balance
An A+ service for parents
Our second charge mortgages are arranged through a small panel of hand-picked brokers. Our brokers will be on hand to help you throughout the whole application process. We work closely together to offer an A+ service to maintain our position as an award winning second charge mortgage lender in the market.
Second charge mortgages for schools
If your school would like to offer parents second charge mortgages through Shawbrook Bank, please contact our team and we will be delighted to come and discuss this with you.
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.