Second Charge mortgages | Sardison Capital

A customer requires a cash injection, perhaps to invest in stock or equipment for their new business. To enable this, they want to unlock some of the equity in their residential property.

Remortgaging might seem the obvious solution — but there may be stumbling blocks in the way. Let’s say, for instance, that the customer is no longer in a salaried role (a significant material change compared to when the mortgage was first arranged). They are starting to see a profit from their new business, but turnover levels are volatile. Under these new circumstances, the existing lender may be unwilling to extend the terms of the existing loan.

A second charge might offer a practical alternative; in other words, a secondary secured loan (from a different lender) that sits on top of the existing loan. As with first charges, it’s useful to have access to specialist products from lenders who understand the needs of self-employed borrowers.

The team at Sardison Capital have been helping business owners to raise finance for over 10 years. Get in touch with the team today to see how we can help you.

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