Here are our top 5 reasons to choose a second mortgage:
You can borrow larger amounts
You can borrow up to £1,000,000.
It may be easier to get a second mortgage
The loan is secured on your home so you may be able to borrow whether you have a good credit rating or a bad credit rating.
You get longer to pay it back
We encourage you to take your loan over the shortest period that suits your budget. second mortgages can be paid back over up to 25 years.
Your monthly repayments may be lower
If you decide to choose a longer repayment period for a second mortgage, it does reduce the monthly repayment amount, but we recommend that you take the shortest period that you can afford.
It may offer greater flexibility
second mortgages can be a very useful means to manage your money effectively and affordably.
Uses for your second mortgage
You can use your second mortgage for almost anything. Perhaps you want to put all of your debts into one, affordable place or you might want to spruce up your home. Maybe it’s the right time to take the plunge on the big wedding and once-in-a-lifetime honeymoon. It could be that you just need a new car.
second mortgages are an ideal way to pay for those expenses that you just don’t want put off any longer. We will do our best to help you get the second mortgage you’re looking for and help make sure you’re not overstretching yourself.
Perfect for home improvements
A shiny new kitchen. A luxurious bathroom. A hobby room in the loft. Maybe a conservatory or garden room. Whatever project you’re thinking of, from a simple freshen up to a full-on extension, a second mortgage for home improvement can be a great way to add value to your home.
Useful for debt consolidation
We know what it’s like. A combination of little loans, credit cards, store cards and overdrafts. Payments coming out of your bank account in all directions and at different times of the month. That’s why people choose second mortgages as one method to consolidate their debts.
Replacing many debts with one single second mortgage can help you manage your money more effectively. second mortgages offer lots of flexibility over the loan amount and the length of time you borrow. You get the control to allow you to set a monthly payment you can afford and sustain. We will help you understand fully what is involved in taking out a second mortgage and the choices you have. It is very important to us that we find you the right solution for your circumstances.