If you’re tied into a great mortgage rate—or face early repayment charges—remortgaging to release equity might not be the best option. That’s where a second charge mortgage comes in.
At Mortgage Knight, we specialise in helping homeowners and landlords raise money without changing their existing mortgage. Whether it’s for home improvements, debt consolidation, or investment, we’ll help you access the equity in your property quickly, efficiently, and with the right lender.
A second charge mortgage (also known as a second mortgage or secured loan) is a loan that sits behind your existing mortgage, using your property as security.
You may benefit if:
We help clients across all circumstances access equity wisely.
We help:
| Feature | Typical Terms |
|---|---|
| Loan amount | £10,000 to £1 million+ |
| LTV | Up to 95% (including both charges) |
| Term length | 3 to 30 years |
| Interest types | Fixed or variable |
| Credit score | Flexible – options for poor credit available |
| Speed | Funds available in 5–14 days |
Status: Steve had a 1.69% fixed mortgage for 3 more years but wanted to borrow £60,000 to convert his garage.
Challenge: Remortgaging would’ve triggered a £4,200 early repayment charge.
Solution: We arranged a second charge mortgage at 6.5% fixed over 10 years.
Outcome: Steve got the funds he needed without disturbing his main mortgage.
Status: Self-Employed Borrower Rejected by High Street Status: Jess was self-employed and needed £45,000 for a kitchen extension. Her income was complex and inconsistent.
Solution: We placed her with a second charge lender that accepted accountant-certified income and 12 months’ trading.
Outcome: Loan approved in 8 working days with no need to touch her current mortgage.
Status: Daniel had credit cards, a personal loan, and rising monthly bills. He wanted to lower his outgoings without losing his current fixed-rate mortgage.
Solution: We arranged an £85,000 second charge loan to clear the debts.
Outcome: His monthly payments dropped by over £500 and everything was under control again.
A: A remortgage replaces your current mortgage. A second charge loan sits alongside it, letting you borrow more without affecting your current deal.
A: Yes. Many specialist lenders are happy to lend even if you’ve had defaults, missed payments, or low credit scores, as long as the equity and income support the loan.
A: Typically 5–14 days, depending on how quickly documents are submitted. We’ll move things along fast.
A: Like your main mortgage, your home is at risk if you don’t keep up repayments. We’ll fully explain the costs, risks, and benefits before you proceed.
A: Yes. Most second charge lenders allow overpayments and early repayment, though some may charge a fee. We’ll check and compare for you.
