2nd Charge

Confidently leverage 2nd Charge mortgages with our support

Our 2nd Charge Mortgage Service is by referral to our trusted third party who has the knowledge and expertise to provide solutions that allow you to tap into the equity in your property. Whether you’re planning home improvements, consolidating debt, funding a major purchase, or pursuing other financial objectives, a second charge mortgage can be a flexible and strategic solution.

What is a 2nd Charge mortgage?

A 2nd Charge mortgage, also known as a second mortgage, is a secured loan that allows homeowners to borrow additional funds while using their property as collateral. This type of mortgage is taken out against a property that already has an existing mortgage (the first charge mortgage). It provides a way for homeowners to access extra capital for various purposes, such as home improvements, debt consolidation, or other financial needs. It’s important to note that the first mortgage always takes priority over the second charge mortgage, and in the event of default and property sale, the proceeds go to paying off the first mortgage first.

Your questions about 2nd Charge mortgages answered

We’re here to provide answers to all your questions, if you can not see your particular question, get in touch with one of our experts who is on hand to help.

What can a 2nd Charge mortgage be used for?

A 2nd Charge mortgage can be used for various purposes, including funding home improvements, consolidating debts, making large purchases, investing in a business, property investments, covering emergency expenses, and more.
Why would I take a 2nd Charge mortgage?

Taking out a 2nd Charge mortgage can be a strategic financial decision for several reasons. It allows homeowners to tap into the equity they've built in their property, which can be used for various purposes such as home renovations, debt consolidation, funding a large purchase, or even investing in other ventures. 2nd Charge mortgages can be particularly useful when the homeowner wants to avoid remortgaging their existing first charge mortgage, which may come with more favourable terms or early repayment charges. Additionally, for individuals who may not qualify for unsecured loans due to their credit history, a second charge mortgage provides a secured borrowing option. Our experienced brokers can assess your unique situation and provide guidance on whether a second charge mortgage is a suitable financial solution for your needs.

About OpenDoor Mortgages

Whether you’re buying a property, remortgaging, moving house, changing ownership, or investing in property, our goal at OpenDoor Mortgages is to ensure a smooth, stress-free journey for you. Our foundation is built on challenging preconceived notions of what a mortgage brokerage should be, all for the benefit of our valued customers. We go above and beyond, ensuring that our customers’ needs are the sole priority in every decision we make. Our dedicated team offers a wide range of services, and we’re committed to providing solutions for every query, concern, or hiccup with the help of our skilled, knowledgeable, and compassionate staff.

Help & Learn

Explore our Help and Learn Hub, your go-to resource for articles, guides, and videos. We simplify the complexities of property transactions, from buying and remortgaging, to moving, changing ownership, investing and everything in between.