Second Charges Explained

Considering borrowing additional funds against your property? A second-charge mortgage may be a viable option. As the name suggests, these loans are taken out when there is already a first charge in place. While they can be a useful tool in certain situations, it's important to understand the potential risks involved. By taking out a second charge, you are essentially putting your property up as collateral for the loan. Speak to a qualified mortgage or financial adviser before making any decisions.