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Second Mortgages, also known as homeowner loans, secured loans or second charges are secured against your property. Second Mortgages are ideal if you want to borrow a large amount of money and are usually used to consolidate existing credit or to make home improvements.

As your property is provided as collateral for the loan, loan providers see you as less of a risk. However, your home could be at risk if you are unable to repay your Second Mortgage.

You need to be a homeowner with an existing mortgage. The mortgage must be the first charge on your property, and a Second Mortgage will sit behind it.

Second Mortgage amounts are available from £5,000 to £2,500,000 but if you have a request that is outside this range, we may still be able to help on a referral basis. Please contact us and we will do our best to help you.

It can vary from case to case but from the day you call us, we aim to complete in just a few weeks and we will always keep you informed throughout the process. We pride ourselves on offering the best possible customer service and as a result, believe we can offer one of the quickest completion times within the Second Mortgage industry.

If you would like to increase the amount you wish to borrow, simply contact your friends here at Loans Warehouse to discuss your options.

At Loans Warehouse we conduct ‘soft searches’ which do not affect your credit rating in any way. We promise not to leave a footprint on your credit rating.

Second Mortgages, also known as homeowner loans, secured loans or second charges are secured against your property. Second Mortgages are ideal if you want to borrow a large amount of money and are usually used to consolidate existing credit or to make home improvements.

As your property is provided as collateral for the loan, loan providers see you as less of a risk. However, your home could be at risk if you are unable to repay your Second Mortgage.

A guarantor needs to be a homeowner, aged 18-75, with good credit history and hasn’t had trouble paying bills in the past.

The guarantor is providing security so they will have to pay the loan back if you are not able to. It is a commitment, so it is important that the guarantor understands the terms and is comfortable they can afford to make the repayments if required. The applicant and guarantor must trust one another implicitly.

First, you need to find a guarantor who trusts you to pay back the loan and that you are confident that you can afford the monthly payments.

Once we receive your loan application, it takes us up to 48 hours to check through the information provided and make sure everything is OK.

We will then call you and your guarantor as soon as we have done this to explain all the loan details. Once we have spoken to you both, we can pay out your loan which is transferred into your guarantor’s account (to protect them against fraud and to make sure they know what has been arranged).

If for any reason you can’t make the monthly repayment, we will ask your guarantor to make the payment for you. If you think you may not be able to make a payment in a given month, please make sure you speak to your guarantor and let them know before the payment is due. They can then pay the money for you on time so that your account is kept up-to-date.

Making monthly payments on time will have a positive effect on your credit score –the more payments you make on time, the better your credit history becomes.

We will credit check you, as the borrower, but only to confirm that you are not currently bankrupt or on an IVA for example.

Thousands of people are turned down for loans each day because of companies relying on a credit score that says they can’t be trusted. We know that in many cases this simply isn’t true, so we base our loans on friendship and trust. Therefore, if your friend trusts you then we will too.

We will also check the guarantor’s credit file, to again, to make sure that they haven’t had any trouble paying back bills in the past. However, this is only ‘Quotation search’ which means that no footprint will be left on the credit file.

Yes. Every month that you pay us on time, it informs the main credit reference agencies (Equifax, Call Credit and Experian) so the more payments you make on time, the better your credit history becomes.

At Loans Warehouse we have Second Mortgages for people with bad credit and use our experience within the industry to ensure that you aren’t penalised for not being perfect. Even people with the most severe credit problems are welcome and almost all circumstances are considered.

A Second Mortgage is separate from your existing mortgage. This means that you will continue with your current mortgage product and therefore not incur any early repayment charges potentially associated with a remortgage.

Like a mortgage, you will be required to pay the remaining amount of your Second Mortgage from the proceeds of the sale.

A Second Mortgage could provide the ability to consolidate debt into affordable monthly repayments. When the Second Mortgage is repaid the debt is finished, whereas a debt management option could have significant implications on your ability to get finance in the future.

A Second Mortgage simply sits behind your first mortgage. This means that you will continue with your current mortgage product and therefore not incur any early repayment charges potentially associated with a remortgage.

At Loans Warehouse we will use our experience within the Second Mortgage industry to ensure that you aren’t penalised for not being perfect. Even people with the most severe credit problems are welcome and almost all circumstances are considered. View our Second Mortgages For Bad Credit page.

Yes, but at Loans Warehouse we conduct ‘soft searches’ which do not affect your credit rating in any way.