We Can Give You a Fantastic Deal on a Second Mortgage FAST!
At Central Trust, we provide great value second mortgages from £3,000 up to £250,000 over 3 to 25 years.
We have been providing second mortgages (also known as “second charge mortgages”) since 1988, which makes us one of the longest established specialist lenders in the UK. We are not a broker, we are a direct lender - this means that there are no hidden fees or broker charges.
We specialise in providing second mortgages to homeowners and mortgage holders as quickly as possible, and with very competitive interest rates. We believe that your credit history shouldn’t stop you getting the second mortgage you need, so we always do our best to help everybody. As a direct lender we can even provide loans for people that have adverse, poor or even bad credit!
Our dedicated team of advisors will do everything they can to get a great deal on your second mortgage as quickly as possible for you - apply for your second mortgage now and discover just how much we can help!
What is a Second Mortgage?
A Second Mortgage runs alongside your existing mortgage – it is an additional loan that is secured against your home that allows you to borrow money using the equity in your property.
Using your home as security against the loan allows you to get a better interest rate for your loan and can also let you borrow money with an adverse, poor or bad credit history. To get a second mortgage, you must already have a mortgage for your home – naturally you will not be able to get a second mortgage if you are a tenant renting a property.
Second mortgages do not replace your existing mortgage, they are an additional loan. This additional loan uses your home as security, so there must be enough equity in the property to cover the amount of money you borrow. By using your home as security in this way, it allows lenders to be more flexible regarding who they lend money to. It also usually allows them to offer lower interest rates than unsecured borrowing. This often means that second charge mortgages can often be provided to people with adverse, poor or even bad credit histories helping them avoid the higher interest rates that are usually attached to unsecured borrowing.
Second Mortgages for Bad Credit
As well as a great option for people with good credit, second mortgages can also be a great way for people with adverse, poor or even bad credit histories to get a loan…
If you have a mortgage but are finding it hard to get an unsecured loan due to issues with your credit profile, a second mortgage that uses your home as security could be the answer. This means that whatever credit circumstances you may currently be experiencing, we will do our utmost to help you secure a second mortgage…regardless of your credit history!
At Central Trust, we consider applications from people who may be experiencing credit issues such as missed payments, CCJ’s or defaults. We consider each and every application on its own individual basis – this means that whatever credit circumstances you may currently be experiencing, we will do our utmost to help you secure a second mortgage…regardless of your credit history!