Secured loans
A second charge mortgage is additional borrowing secured against your home while your existing first mortgage remains in place. Understand the structure, costs and property risks before you apply.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.
A second charge mortgage (sometimes called a second mortgage) is a loan secured on a property that already has a first mortgage. The first-charge lender has priority. The second-charge lender’s security ranks behind it.
People may consider a second charge when they want to raise funds without remortgaging the whole first mortgage — for example because an early repayment charge is high, or because they want to keep a favourable first-mortgage rate. That convenience must be weighed against fees and the risk of securing more debt against your home.
Last reviewed: 10 September 2026
Your first mortgage stays in place. The second charge lender registers an additional legal charge. You make separate repayments to each lender unless a later remortgage combines them.
If the property is sold or repossessed, sale proceeds normally pay the first charge first. Only remaining equity may be available for the second charge and any other creditors.
Not a risk-free workaround
Keeping a low first-mortgage rate can look attractive, but a second charge still increases your total secured debt and the amount you must repay each month.
Run the numbers for both paths, including fees, and consider how long you expect to stay in the property.
FAQs
General UK guidance — not personalised advice.
Related
Continue with connected borrowing journeys.
Broader homeowner secured borrowing explained.
ViewCompare remortgage options as an alternative path.
ViewExplore first-charge mortgage products and journeys.
ViewSecured borrowing overview, risks and alternatives.
ViewKeeping your first mortgage can look attractive, but compare total cost and property risk before you decide.