Whether you’re tied into a low-rate mortgage or simply don’t want to change your current deal, a second mortgage could be your solution.
Also known as a second charge mortgage, this type of borrowing lets you release equity from your home without replacing your existing mortgage — ideal for home improvements, debt consolidation, helping family, or other major expenses.
At Mortgage Knight, we make the process simple, affordable, and tailored to your goals.
A second mortgage is an additional loan secured against your home, separate from your main mortgage. You keep your current mortgage in place, and the second mortgage runs alongside it, with its own lender, interest rate, and repayment schedule.
You repay both over time, but you only remortgage the second loan, not your whole mortgage.
We’ll assess your income, equity, and goals, then match you with a second mortgage lender that fits your profile.
| Feature | Second Mortgage | Remortgage |
|---|---|---|
| Touches current deal? | No | Yes — replaces existing mortgage |
| Triggers early repayment fee? | No | Possibly (if in fixed deal) |
| New lender needed? | Yes (for second loan only) | Yes (for entire mortgage) |
| Speed of setup | Often quicker | Usually slower |
| Useful when… | You want to keep existing rate | You want a better deal overall |
Hannah & Josh had a £210,000 mortgage fixed at 1.89% until 2026. They needed £35,000 to convert their loft but didn’t want to disturb their great rate.
We helped them take out a second mortgage at 6.29% over 15 years. Their home improvements are now complete, and their original mortgage remains untouched.
A: Yes — your current mortgage remains in place, and the second mortgage is an additional, separate loan secured against your property.
A: Possibly — second mortgage lenders are often more flexible than high street banks. We work with a wide panel of providers, including those that consider less-than-perfect credit.
A: Yes — they must give consent, but this is standard. We’ll handle the paperwork and liaise with both lenders on your behalf.
A: Many allow overpayments, and some are even flexible enough for early repayment with minimal fees. We’ll find you a deal that suits your needs.
A: Usually between 2 and 4 weeks, depending on complexity. Often faster than a remortgage.
The team made everything easy, even with my complicated income. I'd been turned away before, but not here.
If you need to raise funds but don’t want to touch your current mortgage, a second mortgage could be the answer.
Contact Mortgage Knight today for free advice, fast decisions, and access to second charge lenders who can help you borrow with confidence.
One home. One great mortgage. One smart solution on top.
