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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparison Product fee Monthly cost Enquire
Initial rate: 4.60%
Rate type: 2 year fixed
Monthly cost: £842.29 per month
Product fee: £999
Overall cost for comparison: 8.1% APRC
Halifax 4.60% 2 year fixed 8.1% APRC £999 £250 cashback £842.29 per month get quotes
Initial rate: 4.60%
Rate type: 2 year fixed
Monthly cost: £842.29 per month
Product fee: £999
Overall cost for comparison: 8.2% APRC
Halifax 4.60% 2 year fixed 8.2% APRC £999 £250 cashback £842.29 per month get quotes Broker Only Deal
Initial rate: 4.61%
Rate type: 2 year fixed
Monthly cost: £843.14 per month
Product fee: £0
Overall cost for comparison: 7.1% APRC
Santander logo 4.61% 2 year fixed 7.1% APRC £0 £843.14 per month get quotes Broker Only Deal
Initial rate: 4.63%
Rate type: 2 year fixed
Monthly cost: £844.86 per month
Product fee: £999
Overall cost for comparison: 6.7% APRC
HSBC logo 4.63% 2 year fixed 6.7% APRC £999 £500 cashback £844.86 per month get quotes Broker Only Deal
Initial rate: 4.64%
Rate type: 2 year fixed
Monthly cost: £845.71 per month
Product fee: £995
Overall cost for comparison: 7.7% APRC
NatWest logo 4.64% 2 year fixed 7.7% APRC £995 £845.71 per month get quotes
Initial rate: 4.65%
Rate type: 2 year fixed
Monthly cost: £846.57 per month
Product fee: £999
Overall cost for comparison: 8.2% APRC
Halifax 4.65% 2 year fixed 8.2% APRC £999 £250 cashback £846.57 per month get quotes Broker Only Deal
Initial rate: 4.68%
Rate type: 2 year fixed
Monthly cost: £849.15 per month
Product fee: £0
Overall cost for comparison: 7.1% APRC
Santander logo 4.68% 2 year fixed 7.1% APRC £0 £849.15 per month get quotes Broker Only Deal
Initial rate: 4.69%
Rate type: 2 year fixed
Monthly cost: £850.01 per month
Product fee: £995
Overall cost for comparison: 8.2% APRC
TSB logo 4.69% 2 year fixed 8.2% APRC £995 £850.01 per month get quotes
Initial rate: 4.69%
Rate type: 2 year fixed
Monthly cost: £850.01 per month
Product fee: £999
Overall cost for comparison: 7.6% APRC
Nationwide Building Society logo 4.69% 2 year fixed 7.6% APRC £999 £850.01 per month get quotes Broker Only Deal
Initial rate: 4.69%
Rate type: 2 year fixed
Monthly cost: £850.01 per month
Product fee: £995
Overall cost for comparison: 7.7% APRC
NatWest logo 4.69% 2 year fixed 7.7% APRC £995 £850.01 per month get quotes
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Second Mortgage For Extension

Second Mortgage Service

We offer a first class service if you are looking for a 2nd mortgage for property extension work. 

Special features of what we offer include:

  • Borrow from £25,000 up to £2.5m

  • Market leading rates

  • Exclusive rates - Access to exclusive loan deals not available on high street

  • Fast turnaround - 15 working days possible

  • Not a perfect credit record? We have lenders who will take into account previous defaults and missed payments

  • Short term finance required? 1 to 12 months - See our bridging loan service

To investigate your second mortgage options call our specialist team on 0117 313 7780 or fill in our call back form. 

What is a second mortgage?

Second mortgages are loans on a property which are subordinate to the 1st charge mortgage (loan) on the property.

Second mortgages are often known as secured loans, or homeowner loans. 

What can I use a second mortgage for?

A second charge mortgage can be used for almost any legal purpose. This will depend on the lender, but examples of what 2nd charge lenders will accept include:

  • Home improvements, renovations and extensions

  • Property development

  • Purchasing a second home in the UK or abroad

  • Buying property at auction

  • Debt consolidation

  • Additional property

  • Car/Vehicle purchase

  • Medical bills

  • School fees

How do I get a second mortgage?

Different lenders have different criteria but some general rules of thumb are:

  • You need to have an existing mortgage in place 

  • You will need sufficient equity in your property - typically a second charge lender will not lend based on the loan you are looking for over 90% LTV taking into account the existing first mortgage.

  • Your credit history will be a factor. Lenders take different views on previous credit blips so talk to us for further information

  • Location - where you live in the UK may determine whether you can raise finance on a second charge basis

To find the best second mortgage rates and options open to you call us today on 0117 313 7780

 

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

Fair Mortgages Limited is an appointed representative of Fair Investment Company Ltd which is authorised and regulated by the Financial Conduct Authority.