• David Tarry MBA

Jargon Buster: Second Charge Mortgage


A secured loan, also known as a second charge mortgage, uses the borrower’s home as security.

It simply sits behind lenders' first charge mortgages and is an additional loan secured against your property.


These can be useful for those whose early repayment charges to remortgage are expensive, the self-employed, or whose credit rating has changed, and have been growing in popularity in recent times.


Failing to repay a secured loan can result in you losing your home, and the Money Advice Service recommend speaking with a mortgage broker when considering second charge mortgage options.


Just get in touch if you'd like some more information or other details.


Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Contact Me Directly 

David Tarry MBA

Merewood Financial Services

57 Park Road

Cowes

United Kingdom

PO31 7LY

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Or Call 01983 875151 - 0207 867 3990 - 0771 476 2597

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Merewood Financial Services is a trading style of David Tarry, who is an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.  Telephone calls made to Merewood Financial Services and/or The Right Mortgage Ltd may be recorded and used for training and/or regulatory purposes.

Your home may be repossessed if you do not keep up repayments on your mortgage.  

Please ensure that you can afford the repayments before entering into a credit agreement.

We are not authorised to provide advice on Investments, Tax Advice, Pensions and Savings but can refer customers to a specialist who can assist in this area. The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.  

Some forms of Buy to Let Mortgages are not regulated by the Financial Conduct Authority.

No fee is payable for our service in relation to mortgage contracts. We will be paid commission by the lender; the amount of the commission due to be paid is available upon request and will be disclosed via the mortgage illustration.

©2021 by Merewood Financial Services.