There are instances where clients will want or need to release equity from their home or investment property and a second charge mortgage can be useful in these cases where a remortgage is not practical or possible. The second charge market is not straight forward and our extensive experience in this area supports our clients in obtaining a suitable facility where:
- Capital raising is required on Buy to Let property without the time to secure a re-mortgage.
- Existing mortgage has expensive Redemption penalties.
- Existing mortgage has a competitive rate that client does not want to lose but needs to raise capital.
- Client has adverse credit acquired after they took out their existing mortgage and this is preventing securing a re-mortgage.
- Client wants to pay off additional capital raised before they pay off their existing mortgage.
- Has an interest only first mortgage.
- Wants to borrow for a term beyond normal retirement age.
