Second Charge MortgagesSecond Charge Mortgages https://www.ngiresidential.co.uk/wp-content/uploads/2020/01/second-charge-mortgages-1024x576.jpg 1024 576 NGI Residential Mortgages NGI Residential Mortgages https://www.ngiresidential.co.uk/wp-content/uploads/2020/01/second-charge-mortgages-1024x576.jpg
If you are looking for finance but are struggling to get funding from your current lender, have you considered a second charge mortgage? This type of solution is considered as an additional mortgage and becomes a second charge against your house.
A second charge mortgage can be useful for various purposes which includes home improvements or consolidating unsecured debt (e.g. credit cards and loans). One of the key benefits are the lower interest rates that are available, making it a much more affordable solution from a repayment perspective. Also, as more lenders now offer second charge mortgages, the interest rates are becoming even more competitive.
Whilst second charge mortgages may not suit everyone, they offer a viable option for raising finance that can be repaid over a long period, making them a very attractive option for existing homeowners.
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
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