Remortgaging is one option to raise money facing a property – you might believe a secured mortgage. Here we examine one another choices such as for instance getting want to make it easier to create told conclusion.

Try Secured finance Much better than Remortgaging?

A protected mortgage is where you borrow cash, being safeguarded against a secured asset, constantly assets. As a result, if you default in your payments, the lender takes power over this new house attain right back their money.

Commonly, a guaranteed loan requires the form of the second costs home loan, along with your latest financial as being the earliest fees – and/or top priority credit protected facing your property.

While we hear a great deal on next charge mortgage loans, the truth is you could have as much as five or higher, according to the lender. [Read more…]