When a client needs to support a family member, a second charge mortgage can release property equity to cover major expenses.
So, if you have a client trying to pay for any of the following, a second charge might be for them:
- child's university tuition fees & costs
- their private school fees (we've just done deals averaging £20,000)
- wedding costs (like the £40,000 deal we did recently)
- long-term care for elderly parents
- funeral expenses for a loved one
Because a second charge mortage can be used for so many more reasons than people realise, we've produced this short video: The Broker's Guide to Second Charge Mortgages.