Think carefully before securing other debts against your property. The total to repay these debts may be considerably more.

Your home may be repossessed if you do not keep up repayments on a mortgage or debt secured on it.

"Quick easy and friendly – November 2020"

I can’t recommend highly enough. I had an incredibly complex and difficult case which required me to release money in my property. They worked tirelessly to get me the best deal and ensure that it went through during a time when lenders are being incredibly picky and hard to please. I was kept up to date at every stage. They did go above and beyond throughout the process.

Prefer to talk?

Call us and a real person answers. No call centre, no phone menu, no scripts. Just friendly, helpful advice from a business insurance professional.

You expert will find the best deal that’s right for you and be with you every step of the way.

We're here Mon-Thur 9 am-7 pm (Fri 4 pm)

Laura Perry-Warnes

Mortgage & Insurance Specialist

Personal Finance: is it worth taking a second charge mortgage in 2021?

What are second charge mortgages?

A second charge mortgage is a home equity loan that allows you to borrow against the value of your house for just about any purpose.

Most homeowners use them to raise money instead of remortgaging.

This funding option can allow you to avoid the often costly process of re-mortgaging which is what many customers looking to release capital use in the absence of the second charge mortgage option.

How much can I borrow on a second mortgage?

A second charge mortgage allows you to use any equity you have in your home as security against another loan.

Equity refers to the percentage of a person's house that they own outright and this can range from 0% up to 100%.

For example, if your home is worth £250,000 and you have £150,000 left to pay on your mortgage, you have £100,000 in equity.

That means £100,000 is the maximum sum you can borrow.

Why take out a second mortgage?

There 3 main reasons why you should consider a second mortgage

1) 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.

2) 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.

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

Best uses for second mortgage loans?

Whilst second charge mortgages are most commonly used for consolidating debt or home improvements, there are in fact many purposes for this finance:

Other common uses include

- Extending a lease

- Business purposes

- A deposit for an additional property purchase

- A wedding

- To purchase a car (the maximum term is 5 years)

- School fees

- Tax bills

- To transfer equity

Advantages of a second charge mortgage?

- Raise the finance you need without having to remortgage

- Borrow from £5,000 to £500,000 for up to 30 years*

- Fixed and variable rates available**

- Complete flexibility to repay your mortgage in full at any time

- Overpayments can be made at any time

Case study: Debt Consolidation

Mr and Mrs G were in a bit of a mess.

Because of their good credit rating, they had access to the best rates.

They over-committed themselves to the tune of £40,852 in credit cards, overdrafts and loans.

It wasn't long before they found themselves in a position where they couldn’t borrow any more money.

Their credit score dropped like a tonne of bricks and rejections became all too common.

Mr and Mrs G needed help fast but didn’t know who to turn to or what options were available.

They had been in a vicious debt cycle for years and had no way how to get out of it.

In February, Mr G responded to our ad to see if we could help them regain control over their finances.

We formulated a plan to get Mr and Mrs G back into mainstream lending by using our 3 step approach.

The first step was to consolidate their high-interest debts into one loan.

The team has the experience plus access to every lender out there, including exclusive lenders not found on comparison sites.

Our negotiation with lenders can help unlock up to 100% of property value if needed.

Mr and Mrs G rested easy knowing if there’s a loan out there, we would find it.

Which we did...

Our team managed to reduce Mr and Mrs G monthly payments outgoings from £1,121 per month down to £523 per month.

Giving them the breathing space they needed to focus on getting back on track with their finances.

The second step was helping them manage their money better through stricter budgeting.

The third step was to remortgage back to a high street lender within 2 years.

This would allow Mr and Mrs G to lower their interest rates even further and back into good standing again.

We have helped thousands like Mr and Mrs G take control of their debt by lowering monthly payments up to 50%.

We work with homeowners to find affordable solutions for all types of debts problems.

plus work out a plan back to mainstream lending.

With over 10 years of helping people out of stressful financial situations...

Our team has seen it all and has a knack for finding the best loans.

If Mr and Mrs G story is hitting closer to home, get in touch.

We are more than happy to help.

At Integrity loans by Charwin, our focus is always on improving your financial well being. It is our passion.

Our second charge loans can be arranged quickly without affecting your existing mortgage.

We make decisions using a combination of human experience and technology, and this personal way of assessing your application means we can often be more flexible and helpful than other lenders.

If there is a second mortgage that is right for you, we'll find it.

We are receiving amazing feedback from our customers as demonstrated by the growing number of 5-star rated reviews on Trustpilot but you know the one message we hear time and time again?

"Wish I had done this sooner" we look forward to giving you a ring and helping you get peace of mind.

Ranald Mitchell


Think carefully before securing other debts against your property. The total to repay these debts may be considerably more.

Your home may be repossessed if you do not keep up repayments on a mortgage or debt secured on it.


The terms offered will be subject to status and loan to value. We will also assess whether a mortgage or secured loan is the most appropriate option.

The actual APRC depends on individual circumstances. Full details will be provided prior to any application.

Representative ARPC 7.5% variable

Based on borrowing of £80,000 with 240 repayments of £631.06, 6.9% interest variable. Total amount repayable £151,824.40. Includes a lender fee of £495 and a broker fee of £1,500. All loans and rates offered are subject to status and credit score. Integrity Loans are a broker not a lender.

Integrity Loans is a trading style of Charwin Private Clients who are authorised and regulated by the Financial Conduct Authority. Our firms' number is 498486.

Registered in England No: 06628612.

Registered office: Holland Court, The Close, Norwich, NR1 4DY.

Telephone: 01603 216881

Fax: 01603 216885

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