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Second Charges | Why It Is No Longer Second Best

Second Charges

Second Charges Mortgages


Second charges are very much earning their place as a significant segment of the Mortgage Market in the UK.

It’s a far cry from the days of the ‘Secured Loan’ and their seedy reputation! Yet, just as highly regulated as first-charge mortgages, the Second-Charge Sector is enjoying significant growth and quite rightly earning its respected place in the Market.

So why not benefit from the Connect Second Charge proposition? We have an extensive range of second-charge lenders for both Buy-To-Let and residential properties and a dedicated Second Charge Team to support you.

Whether you’re a Mortgage Adviser looking for an appointed representative opportunity or someone wanting to become a Second Charge Network Member, we have the perfect proposition for you.

Capital Raising – Second Charge Analysis

As you will be aware, the FCA requires that all options be considered when assisting clients with raising additional capital. Therefore, remortgages, further advances, and second charges should all be considered before making the most suitable recommendation. The Connect team will consider all available options to find the best solution for your client.

The team can also assist with applications to ensure a smooth process for the client. We understand that time is essential when finding the right solution, so we are committed to working diligently and efficiently. 

Second Charge Opportunities

As well as being a mandatory requirement when raising capital, second charges can expand your potential, as they often fit when a first charge doesn’t. 

Here are some of the advantages of second charges: 

  • Raise capital while maintaining the first-charge rate and avoiding ERCs.
  • Credit profile means mainstream first charge options are unavailable, meaning a product switch and second charge is a better option.
  • A high income ratio that rules out charging mainstream lenders first, product switching, and a second can be preferable rather than reverting to adverse lenders.
  • Credit repair strategies.
  • Options for serious credit issues include IVAs, Debt Management Plans, defaults, CCJs and missed payments.
  • Second charges often have more generous affordability calculations.
  • Loan to value up to 100%.
  • Ex Pat Options
  • Reasons for lending – debt consolidation, home improvements, holidays, purchase of another property, business purposes, and tax bills, to name a few.

Benefits of using our experienced Second Charge Team

At Connect Mortgages, our experienced second-charge team is ready to help you maximise your client’s financial options. With that in mind, here are some benefits of using our experienced second charge.

  • Dedicated and significantly experienced in-house 2nds team.
  • Extensive lender panel.
  • Options to advise or refer. 
  • Attractive commissions for both options.
  • Client engagement throughout the documentation process is offered for packaged cases and referrals, saving you time.
  • All data for seconds will be held on OMS and visible to you, providing you access to updates and information as the case progresses.

How to work with the Connect Second Charge Team

Connect has a dedicated Seconds Charge Team to support you:     

  • We take responsibility for the advice given to your client from our extensive panel of lenders.
  • We keep you updated throughout and guarantee no cross-selling.
  • Generous commission share.

Why use us?

Our Second Charge Team has established relationships with mainstream and specialist lenders across residential and buy-to-let second charges.

We are here to help you better understand second-charge mortgages and how they can benefit your clients. We know that everyone’s financial situation is different, so we’ll take the time to explore each option available to your client and provide tailored solutions to suit their individual needs. Having a long-standing relationship with some of the UK’s leading second-charge providers helps us solve your client’s otherwise unfortunate or dire situation. 

You have nothing to lose but, of course, a lot to gain by having a conversation with our Second Charge Team Today!