Second Charge Bridging Loans

Rate from:

0.89%

Term Length:

3 – 21 months

Loan-to-value:

up to 70%

Loan amount:

£100k – £5m

Bespoke second charge bridging finance

Second charge bridging loans provide borrowers with additional funding against a property that already has finance secured against it by another lender.

When you first lend against a property this is known as a 1st charge. If you require additional funding, we could provide a 2nd charge bridging loan to raise the finance. A ‘second charge’ means that there are now two lenders with charges against the property.

  • Our second charge bridging loans are available to clients who live in the UK or overseas, except sanctioned states.
  • All properties must be located within England and Wales.
  • We also supply second charges for commercial assets and buy-to-let refurbishments or purchases.
second charge bridging loans
second charge bridging loans

Example of a 2nd charge bridging loan:

A homeowner with an existing mortgage looking to raise funds to refurbish their home before putting the property on the market. They are currently still paying off their mortgage. A 2nd charge bridging loan could be issued alongside the original form of finance. This would then provide the funds to renovate. To exit the loan, the buyer could use the sale of the property. They would first need to repay the first charge lender in full and then use the second charge lender once the sale completes.

Get an instant quote

Try the MFS bridging loan calculator to estimate the amount you can borrow, interest and other costs. Just enter the market value of your property, any outstanding mortgage, the amount you’d like to borrow and the months you’d need the money for. The calculator is easy to use and you get instant results.

Market Financial Solutions MFS Calculator

Second charge bridging loans:

What you need to know

bridging loan for auction properties

Contact us

Speak to us on the phone, via chat or email about your case, however complex it might be. We have a friendly, dediciated team and one of our underwriters will be happy to help you with your query. We will try our best to say yes to you, instead of finding a reason to say no.

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