You should think carefully before securing other debts against your home because consolidating debts could increase the total amount you pay back. Your home may be repossessed if you do not keep up repayments on your mortgage.
*The maximum loan, rate and loan-to-value ratio offered may vary based on your individual circumstances
| Second Charge - Smaller Loans Cost for Comparison | Second Charge - Larger Loans Cost for Comparison |
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To help you understand a typical cost for a mortgage, please see the representative example below. The figures used are for illustration purposes only, your actual costs and monthly payments will vary depending on your mortgage. For example:A mortgage of £25,000 payable over 18 years, initially on a fixed rate for 5 years at 9.70% and then on a tracker at 2% above the Together Homeowner Managed Rate currently 8.75% (variable) for the remaining 13 years would require 60 instalments of £277.76 followed by 137 monthly payments of £291.67 plus a redemption administration fee of £100.00. Read more information on THMR. The total amount payable would be £57,016.06 made up of the loan amount (£25,000) plus fees (arrangement fee (£995), broker fee (£1,388) and redemption administration fee (£100), plus interest (£29,533.06). The overall cost for comparison is 12.3% APRC representative. The actual rate available will depend upon your circumstances. Ask us for a personalised illustration. |
A mortgage of £105,000 payable over 18 years, initially on a fixed rate for 5 years at 8.20% and then on a tracker at 2% above the Together Homeowner Managed Rate (THMR) currently 8.75% (variable), for the remaining 13 years, would require 60 instalments of £962.29 followed by 156 monthly payments of £1,098.86 plus a redemption administration fee of £100.00. Read more information on THMR. The total amount payable would be £229,259.56 made up of the loan amount (£105,000)plus fees (arrangement fee (£1,495), broker fee (£1,981) and redemption administration fee (£100), plus interest (£120,683.56). The overall cost for comparison is 10.2% APRC representative. The actual rate available will depend upon your circumstances. Ask us for a personalised illustration. |
| Smaller Loans Cost for Comparison |
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To help you understand a typical cost for a mortgage, please see the representative example below. The figures used are for illustration purposes only, your actual costs and monthly payments will vary depending on your mortgage. For example:A mortgage of £25,000 payable over 18 years, initially on a fixed rate for 5 years at 9.70% and then on a tracker at 2% above the Together Homeowner Managed Rate currently 8.75% (variable) for the remaining 13 years would require 60 instalments of £277.76 followed by 137 monthly payments of £291.67 plus a redemption administration fee of £100.00. Read more information on THMR. The total amount payable would be £57,016.06 made up of the loan amount (£25,000) plus fees (arrangement fee (£995), broker fee (£1,388) and redemption administration fee (£100), plus interest (£29,533.06). The overall cost for comparison is 12.3% APRC representative. The actual rate available will depend upon your circumstances. Ask us for a personalised illustration. |
| Larger Loans Cost for Comparison |
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A mortgage of £105,000 payable over 18 years, initially on a fixed rate for 5 years at 8.20% and then on a tracker at 2% above the Together Homeowner Managed Rate (THMR) currently 8.75% (variable), for the remaining 13 years, would require 60 instalments of £962.29 followed by 156 monthly payments of £1,098.86 plus a redemption administration fee of £100.00. Read more information on THMR. The total amount payable would be £229,259.56 made up of the loan amount (£105,000)plus fees (arrangement fee (£1,495), broker fee (£1,981) and redemption administration fee (£100), plus interest (£120,683.56). The overall cost for comparison is 10.2% APRC representative. The actual rate available will depend upon your circumstances. Ask us for a personalised illustration. |
Raise additional funds to make improvements around your house, secured against your home, without needing to remortgage. Our secured homeowner loans allow you to borrow the funds you need as a 2nd charge loan, completely separate to your current mortgage.
Our common sense approach to lending means that we can be more flexible when it comes to your income and credit status, taking into account your personal circumstances rather than a credit score.
Also, many of our products come without early repayment charges (ERC) so you can repay your loan quicker, and be more cost effective, without being penalised.
If you already have a mortgage and want to borrow again, there are several options. A secured loan may be worth considering if your circumstances have changed, and remortgaging out of your existing deal isn’t the best option. Perhaps your employment status or credit rating has changed. Or perhaps the property needs significant repairs, and its valuation has slipped as a result.
Known as a 'second-charge mortgage', this loan is secured against your home and will run alongside – but independent of – your existing mortgage. It has its own rate and terms, so you could borrow over a shorter period than remains on your current mortgage. Which means you may pay back less in the long term, compared to remortgaging.
We know you’re more than just a credit report, that's why we get to know the person behind the numbers, so our underwriters make their decision based on your individual circumstances, every time. It’s not rocket science, but it means we can often lend when others won’t.
Do you want to understand the potential cost of your mortgage or loan?
We can give you an idea of the monthly costs with just a few details like the property value, your deposit amount and how long you need the loan to last.
Find out hereIf you already have a mortgage and want to borrow more money to do some renovations, a home improvement loan may be for you. This 'second-charge mortgage' runs alongside your current mortgage and is secured against your home.
A home improvement loan has its own rate and terms, which means you could borrow over a shorter period than what’s left on your current mortgage.
When you compare this to remortgaging, you may end up paying back less in the long term.
Typically, you can borrow up to 250k for home renovations. Larger loan sizes can be considered on a referral basis.
