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Second charge
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Is there any alternative to a second charge when the first charge will not allow one on the property that is both legally binding and viewed favourably by lenders? I have been informed by a mortgage broker that there is and it would not show up on the land registry, is this correct?
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Comments
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When a first mortgage company won't grant consent for a second charge, you could apply for an "Equitable Charge" which is registered against your property but this will show up on land registry. They are generally more expensive than second charges, however, due to the increased risk incurred by the lender.
If you want to know any more, feel free to ask!0 -
Have you asked whoever has the first charge whether they can lend you the money?
Failing this could not just remortgage?0
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