Second Charge Mortgages

For building memories, not just extensions.

Second charge funding can often be a better solution than a potentially costing re-mortgage, allowing your clients to free up equity for a range of purposes while leaving their existing mortgage in place.

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Product Highlights

  • Rates from 4.20%
  • Lending from £5k to £500k
  • No ERCs and no charges for overpayments
  • Repayment periods from 3 to 30 years
  • Borrowing up to 85% of the property’s value (less existing mortgage)
  • Cater for customers with historic credit issues and/or those with unconventional income, including contractors

Download our product guide

Criteria at a glance


3 – 30 years


Minimum age of 21 years and no older than 85 years at the end of the mortgage term


England, Wales & mainland Scotland


The loan must be secured on the applicant’s primary residential address

Property value

Minimum property value of £70,000


All applicants must be UK based and in receipt of taxed income in £ sterling

Minimum time in employment – 3 months

Minimum time in self-employment – 12 months

Mortgage history

Minimum mortgage history required is 12 months

Download our criteria guide

What can a second charge mortgage be used for?

Not just for debt consolidation and home improvements:

  • Business purposes (excluding start ups)
  • Deposit for additional property purchase (i.e. BTL or holiday home)
  • Repay a tax bill
  • Holiday
  • Medical procedures
  • Car purchase (maximum term is 5 years)
  • School fees
  • Wedding
  • Gifting money to a child
  • Transfer of equity
  • Lease extension
  • Repay Help to Buy
What can a second charge mortgage be used for?

A great solution for your clients

Our second charge mortgage could offer a great solution to your clients who find themselves in the following circumstances:

  • Your customer has a competitive first charge interest rate that would be lost if they remortgaged
  • Their circumstances have changed and can no longer attract favourable terms as they had in the past or they have been declined
  • If your customer has an interest only first charge, a remortgage would require the entire debt to be repaid on a full repayment basis which may result in more expensive repayments
  • Their first charge mortgage is subject to ERCs
  • They require lending on a short-term basis
  • Customers want to borrow £25k+ and unavailable on a personal loan
A great solution for your clients

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