A second charge mortgage - sometimes called a secured loan - can be a good option if you would like to borrow money whilst leaving your current mortgage in place and avoiding early redepmtion penalty charges. The new loan is secured on your property and is available for many different purposes. It can allow you to avoid the cost associated with a re-mortgage – an option taken by many customers who are unaware of the second charge market.
This type of mortgage is 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, and offers an alternative solution for customers where their existing mortgage lender’s criteria restricts further borrowing.
R.A. Street Associates Ltd Company Number: 05488321
Registered Office: 31 Waterloo Road, Wolverhampton, WV1 4DJ in England.
We are also authorised and regulated by the Financial Conduct Authority.
Our FCA number is 845831.
The FCA does not regulate most Buy to Let mortgages.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
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