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Second Charge Mortgage Lenders

A guide to second charge mortgage providers.

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: June 13, 2022

If you need to fund improvements to your home, or unlock extra cash  for any other reason, you may be looking into taking out a second charge mortgage loan.

Second charge loans can help you borrow against any equity you’ve built up in your home. They can be especially useful if your situation prevents you from remortgaging your home as a way of raising funds.

But taking out an additional layer of debt adds to your financial risk, so it’s important you speak to an advisor and understand lenders’ terms and conditions before making any far-reaching decisions.

In this article, we’ll help give you an idea of which lenders offer second charge mortgages and what their terms and conditions are.

To find out more about second charge loans and which lenders you could approach, make an enquiry or call us on 0808 189 2301.

We’ll take the time to connect you with a financial advisor who has specialist knowledge for your situation.

What is a second charge lender?

A second charge lender is a finance provider, or bank which offers second charge loans to home-owners. In some cases lenders which offer second charge loans will only do so for existing customers.

However, there are also plenty of lenders willing to service new customers with a second charge mortgage loan.

Second charge loans, second mortgages or secured loans, as they’re often known, can help homeowners who need borrowing options.

While not always the right solution for every situation, it can be useful for borrowing money in a secured way with a low interest rate.

Second mortgages  also help by providing an alternative to remortgaging, which could push up your mortgage interest rate and leave you paying more over the long-term.

Do I need a specialist lender to get a second charge mortgage loan?

There are specialist mortgage lenders which can provide you with great options for a second charge loan. However, they aren’t the only source of second charge lending in the UK.

Some lenders in the growing alternative lending market may be able to help you with your 2nd charge mortgage. A number of regular UK banks and lenders will also provide second charge loans.

If you’re unsure of your options, then speaking with an experienced mortgage advisor can be helpful.

A qualified mortgage broker, who specialises in second charge loans, will have whole of market knowledge and can help you by searching the market to bring you directly to your best deal.

They can answer all your questions and help you find the right second charge lender for your specific needs.

Do high street banks provide second charge loans?

Yes! Some UK high street banks and other types of mortgage lenders do provide second charge loans, but they all have their own set of products, terms, and conditions. Not all lenders will provide second charge loans, and some may only offer them to existing customers.

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Which lenders offer second charge loans?

Here’s a little more about the different lenders and banks that offer second charge home-owner loans.

Precise Mortgages

Precise Mortgages is a specialist lender that uses specialised technology to govern their loan approvals. They offer a wide range of residential and buy-to-let mortgages, including second charge loans.

Precise Mortgages provide second charge loans secured on property where the owner resides  and landlords can also make use of their services through their buy-to-let portfolios.

The criteria for each type of second charge loan will likely differ, so you’ll need to check those details carefully before you make your application. Incorrect information or missed questions could lead to your application being refused.

Shawbrook Bank

Shawbrook Bank is a specialist mortgage lender that provides second charge loans. They consider residential second mortgages and buy-to-let second mortgage options.

Shawbrook Bank has some flexible repayment options, including:

  • Overpayments
  • Fee free early repayment in full

If these features interest you, double check whether the second charge products you’re considering include them.

A qualified mortgage broker can help ensure the second charge loan you take out matches  your circumstances and offer the flexible or rigid terms you need.

Even if Shawbrook Bank second charge mortgage range appeals to you ,it’s always worth comparing their offer with other second charge loan lenders through a whole-of-market broker to make sure you get the best deal.

Paragon Mortgages

Paragon Mortgages are a specialist mortgage lender that offers a variety of fixed and variable rate second charge loans.  As with all secured finance, their lending decisions are based on a variety of criteria, including affordability tests.

Paragon Mortgages 2nd charge loans offer a flexible product to help homeowners or investors secure the right second charge loan for their needs.

However, Paragon Mortgages and other UK providers, follow strict lending rules, so it’s best to work through a mortgage broker who will ensure your application isn’t rejected by taking you directly to your right provider.

Castle Trust

Castle Trust only accepts second charge mortgage loan applications via brokers and intermediaries. That means you’ll need to work through a mortgage advisor to find out more about Castle Trust’s second charge loan range, criteria and products.

An experienced mortgage broker can find second charge mortgage rates that aren’t available in the direct to consumer market.


Santander  offers a type of second charge loans  called additional secured lending.

Some experts consider Santander to be a reliable middle ground lender of typical residential mortgages, additional lending, and 2nd charge loans or additional secured borrowing

For more details on the rates and second charge loan products they offer ask a broker to show you how their rates and criteria compare with other providers on the market.


While Halifax does support additional secured borrowing, They seem to prefer to extend your existing mortgage, rather than agreeing a second one.

Shopping around the market instead of working solely with your existing provider can often help you find a better deal.

But if you’re an existing Halifax mortgage customer and wish to apply for a second charge loan from a different lender, Halifax will need to first give consent to the 2nd charge loan provider you choose.

An experienced mortgage advisor can help you quickly find out if Halifax is the right lender for your additional lending needs, or if you need to be an existing customer to secure the finance you’re looking for from a second charge loan.


Like Halifax and Santander, typical second charge loans, aren’t widely advertised by Nationwide. However, Nationwide does allow existing mortgage customers the option of applying for additional, secured finance.

If you already have your mortgage with Nationwide and are happy with their service and the terms of your mortgage, then extending your mortgage without remortgaging might suit your needs perfectly.

However, if you feel it’s not the right option for you then speaking with a mortgage advisor can help you find the right second charge loan lender for your needs. If you do follow this route, your chosen second charge lender will need to gain consent from Nationwide.


NatWest is another high street bank that may agree to additional secured lending, but possibly not in the form of a second charge loan. It’s also something that may only be open to existing NatWest mortgage customers.

To ensure you have access to the whole of market for 2nd charge loans and additional secured borrowing, expert advice is typically an easier and more reliable solution than talking to NatWest direct.

Lloyds Bank

Lloyds Bank can agree to additional secured borrowing from existing mortgage customers, possibly through a second charge loan.

Lloyds Bank could be the right lender for your 2nd charge loan needs. However, that option may only be open to people who already bank with them, or those who have an existing Lloyd’s mortgage.

If you’re interested in Lloyds Bank mortgage products, but you’re unsure about securing a second charge loan from them, it’s best to speak to an experienced mortgage broker.

To find out what’s possible for you, get in touch and we’ll connect you with the right mortgage advisor  for your specific second charge loan requirements.


Aldermore Bank is a specialist mortgage lender that takes a modern approach to second charge lending.

But their criteria is as strict as other lenders, so even if they offer you a second charge loan or additional mortgage based lending, you’ll need to be certain that…

  • You’ve done market research to check whether it’s the right 2nd charge loan/additional secured lending product for you.
  • You’ve filled out your application carefully and correctly.

Speak with a mortgage advisor to find out more about all of the secured lending products offered by Aldermore.


Masthaven is among the specialist finance providers that do offer second charge loans to a range of customers. The lender services many different types of customer and you could secure the right second charge mortgage for your needs if you can pass their affordability criteria

However, you may find that you can only access Masthaven’s best rates and products when you apply through a mortgage broker.


Together offers a range of second charge mortgages. It provides financial solutions to a variety of borrowers and it could be the right second charge lender for you. But whether its a 2nd charge loan or a more tailored secured loan solution you’re after, you may find better results when you apply through a mortgage advisor.


As a lender, Accord often has some great interest rates and products available.

Accord does offer additional mortgage lending to existing customers. However, a mortgage broker will likely be able to access better interest rates and second charge loan products than what’s available when you speak with them directly.

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More lenders and mortgage specialists for second charge loans

Many lenders provide second charge loans and additional secured lending products: knowing what’s available on the market is the first step to finding a loan one that works best and knowing which provider will cater best to your situation.

Here are a couple more lenders with 2nd charge mortgage loans that you may want to look into:

  • Norton Finance offer secured loans and second charge mortgages
  • United Trust Bank provides a variety of secured lending including second charge loans
  • Evolution will provide additional mortgage lending, or second charge loans, to homeowners
  • Prestige Finance specialise in second charge loans
  • Optimum Credit is a specialist lender that offers second charge loans

Speak to a second charge loan expert

While it is possible to conduct your own research and find a second charge loan that could work for you, you won’t have access to the whole of market like a mortgage broker does.

An experienced broker can answer all your questions and help ensure you’re getting the best second mortgage for your specific circumstances.

If you want to find out more about second charge loans and lenders, get in touch by calling 0808 189 2301 or fill in our online enquiry form. 

We’re experts at connecting people with the right advisor for their needs. We only work with carefully vetted brokers who will take the time to understand your situation and then show you where you could make a saving by getting the best deal on your loan.

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We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects.

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About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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