A second charge mortgage - sometimes called a secured loan - can be a good option if you’d like to borrow money while leaving your current mortgage in place. 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.

Second charges can be utilised best if you have maybe an interest only mortgage in place and don’t want to lose this facility. Or if you are currently tied into a product and don’t want to pay the early repayment charges applicable to the mortgage.

Feel free to give us at M&G Mortgages a call to discuss your requirements. 2nd Charges can be used for any legal purpose such as buying a car, paying for a holiday, home improvements or clearing current static debt such as credit cards, stores cars or personal loans.