Second charge mortgages

You can find the terms and conditions for your mortgage with your original loan documents but if you need them to be resent to you, please contact us on cm.customer@shawbrook.co.uk or 0345 650 6287.

We are available:

Monday - Thursday: 8am-8pm
Friday: 8am-6pm
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

You can find the tariff of charges for your Shawbrook mortgage on our customer documents page, but if you would like us to send you a copy please contact us on cm.customer@shawbrook.co.uk or 0345 650 6287.

We are available:

Monday - Thursday: 8am-8pm
Friday: 8am-6pm
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

You can settle your second charge mortgage at any time.

Please contact our second charge mortgages service desk to request a settlement figure. The settlement figure will include a discharge fee of £120 for England, Wales and Scotland. This charge covers the cost of closing your account and arranging for the release of the property from our charge. It’s mentioned in your mortgage offer, too.   

You can contact the team by on 0345 650 6287. 

We are available:

Monday - Thursday: 8am-8pm
Friday: 8am-6pm
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

Your second charge mortgage is a capital and interest loan. Each monthly payment covers the monthly interest on the loan and a proportion towards reducing the loan itself. This means that each monthly payment reduces the capital amount that you owe (your loan balance). So your loan balance reduces over the term of the loan and is repaid at the end of the loan term.

This assumes that you don’t miss any payments during the term of your loan.

Yes, you can overpay your loan with any amount, as often as you like and at any time during the term of your loan, free of charge. Your monthly payment will not change, but the term of your loan will reduce accordingly. You may need to evidence the source of the funds you use to make an overpayment.

Please contact us to discuss this further on 0345 650 6287.

We are available:

Monday - Thursday: 8am-8pm
Friday: 8am-6pm
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

We’re here to help. If you are experiencing financial difficulty, please get in touch as soon as possible so that we can tailor a solution that works for you. Please contact us on 03456 506 288.   

We are available:
Monday - Friday: 9am-5.30pm
We're closed at the weekends and on public holidays.

Our Money worries section on the help page has details of organisations who can provide free help and advice.

We are a responsible lender, and we will always deal with you honestly and sympathetically. Please contact our team  if you can't afford the payments on your loan. If you can tell us before you miss any payments, we are much more likely to be able to help you.

If you fail to meet any of your repayments as required under the terms of your loan, you will incur reasonable charges and/or fees. These fees will be added to the amount that you owe. You can find details of these fees in the tariff of charges document. You'll find this on our documents page.

You can also find more support on our money worries page. 

Please contact us on 0345 650 6287.

We are available:
Monday - Thursday: 8am-8pm
Friday: 8am-6pm 
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

If you’re managing the estate of someone who had a relationship with us, we’re here to help.

We work with the Death Notification Service (DNS) to make the process as simple as we can.

Once you’ve used the service to let us know someone has passed, we’ll be in touch to let you know what the next steps are. If they had more than one account with us, there’s no need to tell us separately. We’ll check all Shawbrook accounts and let you know about them together.

You can find out more about how to use the service on our dedicated bereavement page.

We no longer offer this service so we are unable to extend your existing second charge mortgage.

If this is something you wish to consider, please contact your mortgage broker for advice.  

We no longer offer this service so we are unable to lend you more money on your existing second charge mortgage.

If this is something you wish to consider, please contact your mortgage broker for advice.  

You can only have one second charge mortgage on your home.  If your new lender says they need to be second charge, you’ll need to redeem your existing loan with Shawbrook so that your new lender can take a second charge behind your mortgage lender.

If you’d like to arrange a further charge on your property and your new lender is happy to register a charge behind your mortgage lender and our second charge, we can consider this. When we register the second charge mortgage against your home, we also register a restriction that prevents any other subsequent charges being registered against your property without our consent. This request is subject to application and review.

Things we will consider when reviewing your application for a subsequent charge, include your account conduct, the total level of lending against your home and total debt affordability. If your application does not meet our criteria, we will not be able to approve your application.

What does this application involve?

• You will need to pay an administration fee of £75.
  This covers the administrative costs we incur when managing your application.
• We will need full details of the proposed new loan.
• On application, we will let you know the things we need from you to complete our review.
• Please note, your new lender may require us to complete a subsequent change questionnaire and ask us for details about your mortgage.  
  We will only complete this if you have given us permission.  

How can I pay these fees? Are they refundable if you don’t approve my application?

The administration fee is payable at the start of the application. As this fee is payable to cover the cost of dealing with your application, this fee is non-refundable whether the matter is approved, declined, or cancelled once we have assessed the application.

Please contact us to make a debit card payment on 0345 650 6287. We do not accept cheques.

You can contact the team by on 0345 650 6287.

We are available:

Monday - Thursday: 8am-8pm
Friday: 8am-6pm
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

If you are looking to change your first charge mortgage provider and keep your Shawbrook second charge mortgage in place you will need to make a Deed of Postponement application.

Please send all Deed of Postponement requests to sl.operations@shawbrook.co.uk.

What does a Deed of Postponement application involve?

1. You will need to pay an administration fee of £75
The fee covers our administrative costs for managing your application. This fee is included in the Tariff of Charges document. You can find this on our documents page.

2. We will need full details of your new mortgage
We will need a copy of your new mortgage offer letter, confirming the amount of the new mortgage, the term and the monthly repayment amount. If your total mortgage repayments will increase, we will need to see proof of your income to ensure that you will be able to meet your increased monthly outgoings.

If your mortgage provider will not provide you with a mortgage offer until they get agreement to the deed of postponement, we will accept a letter addressed to Shawbrook, directly from your mortgage lender. The letter from your mortgage provider should confirm the following details:

• Total amount of borrowing
• Mortgage term
• Current property valuation and the date the inspection was completed
• Monthly repayment amount

We cannot accept a Key Facts Illustration, as this is not a final mortgage offer.

3.  We will need to know the current valuation of your property
This will tell us whether there will be enough equity in your home to satisfy our current lending requirements. You may need to repay some of your loan balance if the new mortgage will reduce the level of equity left in your property by too much.
 
4.  You’ll need to pay a solicitors fee of £75
As a Deed of Postponement is a legal document, if we can approve your application our solicitors will then need to review it to make sure it is suitable for our second charge mortgage purposes.

How can I pay these fees? Are they refundable if you don’t approve my application?

The administration fee is payable at the start of the application. As this fee is payable to cover the cost of dealing with your application this fee is non-refundable once we have assessed the application, whether the matter is approved, declined, or cancelled.

You can pay the solicitor’s fee either at the start of the application or, if you would prefer, once we have confirmed that we are agreeable in principle to the Deed of Postponement. If you pay your solicitor fee at the start of the application and your application doesn’t proceed for any reason, it will be refunded up until the point our solicitors are instructed to review the matter.

Please use the contact details below to make a debit card payment. We do not accept cheques.

Please contact us on 0345 650 6287.

We are available:

Monday - Thursday: 8am-8pm
Friday: 8am-6pm
Saturday: 9am-2pm

We're closed on Sundays and public holidays.

How long will you take to give me a decision?

Once we receive all of the information we need from you we will complete an initial review of your application. We reserve the right to request any additional information necessary to allow us to make an informed decision on your application.

From the date all required information is received, we will aim to return the executed Deed of Postponement to your lender (or their solicitors) within six working days.

Is there a chance you will decline my application?

As with any application, there is unfortunately a chance that your request will not meet with our requirements. In this case we will have no option but to decline your application.

We will take a common-sense approach and look at the individual circumstances of your application to see if we can accommodate your request. For example, if your application has been declined because there would not be enough equity left in the property, we could give you the option of repaying a proportion of your loan to bring the loan balance down and bring the equity levels in line with our requirements.

If your application is declined, this will impact your remortgage application and you will need to speak with your new mortgage lender as soon as possible.