Lima Money advises on, and arranges second charges, sometimes referred to as second charges.
A second charge can be useful and appropriate in cases where a first mortgage has a tie in meaning that a remortgage to capital raise would incur early repayment charges, or perhaps where the existing mortgage rate is appealing and surrendering it is not a favourable outcome. A second charge runs alongside your existing mortgage and can be used for any legal purpose. Typically second charges are used for home improvements, debt consolidation, capital raising to purchase an investment property, or school fees.
If a second charge is the most appropriate outcome for your individual circumstances, Lima Money's experienced team will guide you through the process, explaining along the way all the relevant steps
