The Second Charge Mortgage is a way of being able to obtain a loan that gives you the option to keep your existing mortgage in place without having to re-mortgage, which is a very useful provision if you are on an early repayment mortgage with a fixed rate at present.
This type of loan is extremely popular with people who want to release equity from their property without having to change their existing mortgage deal. It is also a great option for those who are looking for an additional funds but do not want to increase their existing mortgage debts. This is an attractive option since homeowners can use this money for a variety of purposes, including home improvements, debt consolidation, or investments.
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