🔐 Second Charge Bridging

A second charge bridging loan allows you to borrow against the equity in a property that already has a mortgage on it — without disturbing or refinancing the existing first charge. For property investors with significant equity tied up in their portfolio, this unlocks capital quickly without triggering early repayment charges or losing a favourable existing rate.

When is a Second Charge the Right Answer?

• Your existing mortgage has a high early repayment charge (ERC) — remortgaging is expensive
• You're on a favourable rate you don't want to lose
• You need funds quickly and remortgaging timescales are too slow
• You need to raise a deposit for a new acquisition against an existing property

How Lenders Assess Second Charge Bridging

The second charge lender sits behind the first charge lender in the security waterfall — they only get paid out after the first charge is cleared on any sale. To compensate for this additional risk, second charge bridging rates are typically slightly higher than equivalent first charge rates. Lenders will assess the total debt against the property value (combined LTV), ensuring sufficient equity headroom remains.