second/third charge on private loan

debbiejune

Can someone please tell me if our mortgage lender needs to give permission for a third charge on our house. We have the opportunity of achieving 50% of the profit in a property development venture. We need to raise money to put in, for which which we already have an offer of a bridging/secure loan with a second charge on our house. To realise our full 50% we need to borrow further and a good friend has offered us the extra funds, on the basis that it is all done legally and she has some security or third charge on our house. We have plenty of equity but think that our mortgage lender might refuse on the basis we have already will have a second charge on it. Any help or advice appreciated.

jonesMUFCforever

The lender cannot refuse as long as their position as first lender is not compromised.