Second Charge Bridging
Second charge bridging loans are great products for borrowers looking to raise additional funds by leveraging the value of two properties rather than one.
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Second Charge Bridging
Second charge bridging loans are typically utilised by borrowers looking to raise additional funds as part of a wider deal.
In almost every second charge case we deal with, the borrower is looking to raise 100% of the purchase price of a new investment property by way of a first charge secured on the new property and a second charge secured on their own home.
By leveraging the value of two properties rather than one, borrowers are able to raise more funds and therefore reduce the amount of capital they have to put towards the new property. There are many reasons why a borrower wants a second charge bridging loan but this is certainly one of the most common enquiries at Velocity Bridging.
We offer one of the highest second charge LTVs in the market. Please submit your enquiry below and we will be back to you with terms and next steps.
Apply
Fill in our no-hassle form below and we'll be in touch within a few hours.
Accept
We'll send you our offer, and once you accept, we'll begin the legal paperwork.
Complete
In as little as a few weeks, you'll have your loan secured.
Second charge bridging FAQs
What is a second charge loan?
A second charge means your lender has secured some funds against your property where another lender has already done the same. They will sit in first place whereas the new lender will sit in second place - like a queue! Should the property be sold or refinanced, the first charge lender is entitled to be repaid first meaning the second charge lender is in a riskier position.
How much can I borrow on a second charge?
At Velocity Bridging, our second charges go up to 70% LTV inclusive of the existing first charge
Apply for second charge bridging
Velocity Bridging
Avenue HQ
4 St Paul’s Square
Liverpool
L3 9SJ
