Second Charge Mortgages

Second charge mortgages are an alternative to remortgaging if you are looking to release cash from the equity built up in your property. Like first charge re-mortgages, Second Charges use your property as security for the loan. The distinction between a re-mortgage and a second charge mortgage is that the former replaces the existing lending on your property, whereas the latter runs concurrently with the first charge.

Second charges are often used to consolidate debt, fund home improvements and/or to raise capital for other projects.

Sometimes re-mortgaging will trigger substantial early-repayment charges making it an unviable option for equity release. Other times, a client may be unwilling to give up a favourable interest rate on their existing mortgage for the sake of releasing a relatively small sum. In these circumstances a second charge may be preferable.

Whatever your motivation, it is important that you have the right solicitor acting for you on your equity release to guide you through the process and avoid unnecessary delays.

Why Choose Attwells?

For Our Speed and Diligence: In a competitive market the speed and diligence of your lawyer is key. With Attwells, you can rest assured that no matter what the transaction entails, your lawyers will be proactive in pushing your matter forward to an efficient and satisfactory conclusion.

For Our Competitive Fixed Fees: Attwells offer competitive fixed fees on all of our Property Finance services, so that from day one, you will know how much your legal costs will affect your bottom line. This is all part of our commitment to transparent and fair pricing.

For Our Proactive Communication: Is there anything more frustrating than not knowing the status of your matter? Or worse still, not being able to get in contact with your lawyer for an answer? At Attwells we understand that communication with the client is critical, which is why we will give you regular updates without being prompted. You will always be given the direct line to your lawyer, so you can spend your day on what you want, rather than waiting on hold.

We use cutting edge Case Management Software to ensure that staff absences (either through holiday or unplanned) are always covered by colleagues within the department, so you can be sure that your matter will not be delayed by matters outside of your control.

For Our Expertise: We have completed hundreds of Second Charge Mortgages over the years so we can say with some confidence that your matter is unlikely to be anything we haven’t seen and dealt with many, many times before.


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