Many clients in the Lowermain land are using second mortgages to consolidate high interest debts, renovate their homes or pay for unexpected expenses. Up to 90% LTV second mortgages are available. A second mortgage does not replace your existing first mortgage.
It is a second position mortgage which is advantageous if you currently hold a favorably low rate first mortgage and do not want to discharge due to penalties, fees, etc. Second mortgages can also be arranged with greater ease due to the amount of lenders available both institutionally and privately.