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Mortgage & Equity Release - Call Us 0117 403 4474

Homeowner Loans

3.84% APR (variable)

  • Borrow from £10,000 to £500,000
  • Loans from 3 to 35 year terms

Representative Example:The Representative APRC is 5.9%. Based on an assumed loan amount of £48,000 (including broker fee of £2,505 & product fee of £495) over 240 months at an interest rate of 5% (variable). Monthly repayment £316.78 & total repayable £76,027.20.

Homeowner Loan

3.89% APR (variable)

  • £10,000 Loan over 10 years 
  • Monthly repayments £103.40 per month

Representative Example:The Representative APRC is 5.9%. Based on an assumed loan amount of £48,000 (including broker fee of £2,505 & product fee of £495) over 240 months at an interest rate of 5% (variable). Monthly repayment £316.78 & total repayable £76,027.20.

Second Home Mortgage Calculator

Second Mortgage Service

Why choose us for a second charge mortgage?

Fair Mortgages can provide you with a first class service if you are looking for a second charge mortgage on your home. 

Special features of what we offer include:

  • Borrow from £10,000 up to £2.5m
  • Access to leading market rates from 2nd charge lenders
  • Access to exclusive loan deals not available on high street
  • Fast turnaround - a property valuation may not be required
  • We have lenders who will take into account previous defaults and missed payments 
  • As part of our service we can review whether remortgaging is a better option for you in raising finance.

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

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Second Home Mortgage Calculator

If you’re looking to take out an additional loan on your home for whatever reason and do not want to disturb your existing mortgage terms, then a second home mortgage might be the answer you’re looking for. A second home mortgage (also known as a second charge mortgage) is a type of loan that is secured against your home. The capital that is raised through the secured loan can be used for almost any purpose.

In terms of repayment seniority, second home mortgages are riskier for lenders which are reflected in generally higher interest rates for these types of products. In the event of a default by the borrower the 1st charge mortgage will be paid off first.

Criteria for taking out a second home mortgage

Like any financial product, the criteria for taking out a second home are likely to vary depending on which lender you visit. Typically, lenders will tend to factor in the following when considering your application.

• 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

Using a Second Home Mortgage Calculator

To use the Fair Mortgages calculator you just need to select the type of finance that you are interested in, along with your relevant financial information. The second charge calculator will then be able to filter a selection of mortgages that fit your criteria.

In addition to using this calculator, we recommend that you also contact a mortgage broker or independent financial adviser to help you find and acquire the second charge mortgage that suits your personal circumstances. Taking out a second mortgage is a big investment, and consequently expert advice is vital. Our specialist second mortgage advisory team are experienced in helping investors meet their second mortgage goals, and has access to a range of leading and exclusive second mortgage deals.

If you feel you would benefit from the assistance of one of our expert second charge mortgage advisers, call us today on 0117 313 7780 for a free initial consultation, or fill in our contact request form for an adviser to get back to you.

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Call 0117 313 7780 or Request Callback for our Second Home Mortgage Advisory Team

For a FREE initial conversation about your mortgage options complete our short enquiry form.

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