I already have a mortgage, can I raise further cash on commercial property using a second charge?
Fri, 26 Oct 2007
Yes using specialist lenders but you will need the existing lender's agreement.
Where you already have a mortgage on a property you may be able to raise more cash against it without redeeming your existing mortgage by taking out an additional loan secured by a second charge on the property.
Second charge loans are available up to 75% of the property’s value but require the agreement of the existing mortgage lender.
If this is of interest please contact us to discuss your requirements.
