Second charge mortgages can offer an alternative lending solution to a re-mortgage for those clients looking to raise additional capital.
There are a variety of loan purposes for a second charge mortgage– the most popular being debt consolidation of secured and unsecured debt, or home improvements.
But second charge mortgages are not just for debt consolidation or home improvements. Shawbrook consider uses such as:
- Business purposes
- Deposit for additional property purchase (i.e. BTL or holiday home)
- Repay a tax bill
- Medical procedures
- Car purchase (maximum term is 5 years)
- School fees
- Gifting money to a child
- Transfer of equity
- Lease extension
- Repay Help to Buy
For more details on Shawbrook’s second charge mortgage offering, please contact the Brightstar team on 01277 508 959
FOR INTERMEDIARIES ONLY AND NOT INTENDED FOR THE GENERAL PUBLIC