Financial Advice Services / Second Charges and Secured Loans
Second Charges & Secured Loans / Financial Services / Prestige Financial Solutions

2nd charges mortgages or secured loans means the use the borrower’s home as security. Many people use them to raise money instead of remortgaging.

A second charge mortgage allows you to use any equity you have in your home as security against another loan. It essentially means that you’ll end up with having two mortgages on your home. You’re only eligible for a second mortgage if you’re already a homeowner. That being said, you don’t necessarily need to live in the property in the first place.

A second charge mortgage can be a loan of anything from £1,000 upwards. Just like with any mortgage, failing to repay it could mean you’ll lose your home. Although second mortgages can be useful, taking one out can be a big step – it’s very important to note that if you’re already only just managing to repay your current mortgage. You could lose your home if you cannot keep up repayments on either your mortgage or the second charge mortgage / secured loan.



If you’re struggling to get some form of unsecured borrowing, such as a personal loan, perhaps because you’re self-employed.


If your credit rating has gone down since taking out your first mortgage, remortgaging could mean you end up paying more interest on your entire mortgage. A second mortgage means extra interest just on the new amount you want to borrow.


If your mortgage has a high early repayment charge, it might be cheaper for you to take out a second charge mortgage rather than to remortgage.

Sometimes a re-mortgage is not possible, for example if you still have high redemption penalties on your existing mortgage. But you may need to raise further funds to carry out home improvements, or to consolidate debts. A 2nd charge or secured loan may be the way forward. As with all our cases we will fully assess your needs before making the right recommendation for you.

Second charge mortgages are provided by Prestige Mortgages limited.

Prestige Mortgages limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.

For more details on 2nd Charges / Secured Loans, or for more information / enquiries on General Financial Advice, please contact Prestige Financial Solutions

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