Residential Second Charge Loans

SecondChargeLoans

Ideal for customers looking to capital raise by releasing equity from their existing residential property. Our second charge loans can be arranged quickly without affecting their existing mortgage.

Finance purpose

  • Any loan purpose
  • Ideal for customers who want to protect their existing mortgage i.e. those enjoying low mortgage rates or who want to stay on an interest only repayment method
  • An alternative solution for customers where their existing mortgage lender’s criteria restricts further borrowing

Key product features

  • 2 year Bank of England base rate trackers
  • 2 and 5 year fixed periods reverting to Lifetime Bank of England base rate trackers
  • Capital and Repayment
  • Quicker than a remortgage
  • Up to 85% LTV

How to submit

Submitting a case is easy. We give you the option to submit a residential second charge to us directly or you can introduce a case to one of our Master Brokers. Click here to find out more.

BBR Trackers and the Reversion Rate

Our 2 year Tracker products and the interest rate payable at the end of any fixed rate period track Bank of England Base Rate (BBR). Interest rates that track the BBR will rise and fall in line with changes to BBR. The interest rate the customer pays will change immediately following a change to BBR.

All of our BBR tracker products have a floor. This means that if BBR were to fall to 0.00% or less the rate payable will be 0.00% plus the agreed set percentage above BBR. This means that the rate payable will never go below 0.00% plus the additional percentage rate of the tracker product.

Second Charge Loans

Contact us

Document downloads


Second Charge Loan service update

We are currently working on:

  • applications that were submitted on 17 January
  • post, emails and faxes from 17 January

The Master Broker, you have chosen will talk to you about the valuation times expected for your case. Ask your broker to book early to avoid any delays.

For intermediary use only
BBR 0.25% / 3 month LIBOR 0.38%