Second charge mortgages

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How does a second charge mortgage work?

A second charge mortgage means you can use any equity you have in your home as security against another loan. It means you will have two mortgages on your home. 

Equity is the percentage of your property owned outright by you, which is the value of the home minus any mortgage owed on it. A second charge mortgage allows you to use equity in your home as security against another loan. 

To take out a second charge mortgage, you need to be a homeowner, but you don’t need to live in the property. This means if you’re a landlord, then you may be able to use your rented property against your loan. 

But just like any mortgage, if you fail to keep up with the payments, then you run the risk of losing your home. Your initial mortgage always takes precedence over a second charge one in these scenarios.

What is remortgaging?

What is a second charge mortgage?

Second charge mortgages vs remortgaging: what’s the difference?

What are the common uses of a second charge mortgage?

What are the risks of a second charge mortgage?

Why use Haysto?

We get how it feels when you’re refused a mortgage. We’ve been there. Haysto exists because the mortgage world is broken. If you don’t have a shiny credit rating, you’re self-employed with a complex income, or just don’t fit the mould, the odds are completely stacked against you. We just don’t think that’s fair.

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We help when others won’t

Unlike others, we only work on bad credit, self-employed and complex mortgages. That’s all we do. And we’re up for a challenge.

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No robots, no automated answers. We use technology to connect you to a real person. Not replace them.

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Your success is our success

Our platform connects you to the perfect specialist broker for free. We only get paid when your mortgage is approved.

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Using our platform guarantees you’ll be matched with an expert who has a proven track record of making mortgages possible for people like you. Less processing, more understanding.

Image of mortgage broker Ben Patten

Ben Patten

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Image of mortgage broker Luke Grosse

Luke Grosse

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Image of mortgage broker Sarah Earnshaw

Sarah Earnshaw

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Image of mortgage broker Yogesh Parekh

Yogesh Parekh

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Image of mortgage broker Jemma Talliss

Jemma Talliss

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Image of mortgage broker Paul Clark

Paul Clark

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Image of mortgage broker Lynn Cutts

Lynn Cutts

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Image of mortgage broker Steve Hatton

Steve Hatton

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Image of mortgage broker Jeanette Clark

Jeanette Clark

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Image of mortgage broker Carrie Knight

Carrie Knight

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Image of mortgage broker Jonathan Hunting

Jonathan Hunting

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Get connected to a specialist second charge mortgage broker who can make a mortgage possible for you.

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