Here are some of the reasons for customers looking to obtain a second mortgage:

  1. To raise money for your existing home
  2. To rent out your existing home and purchase a new one
  3. So you can help your children out with a second mortgage
  4. Purchasing a buy to let mortgage in Sunderland
  5. You are on an existing mortgage and are looking to buy a new property

Second Mortgage to Raise Money

If you have a large amount of equity built up in your home and are looking for a second mortgage to release some of the funds to put towards a new home or something else, then your experienced Mortgage Advisors in Sunderland may be able to help.

Usually if customers find they are currently on a lenders standard variable rate, our team are able to shop around and find a more competitive deal, whilst also being able to release capital. A further advance with your current Lender is also a route you could take.

Second Mortgage to Rent Out Existing Home to Purchase a New one

Some customers consider moving home in Sunderland, whilst retaining ownership of their existing property with the intent to rent it out. Your second mortgage will be a new residential mortgage. This type of move is known as a Let to Buy and over the years has become a popular option amongst homeowners.

Second Mortgage to Purchase a Home for your Children

Maybe you are exploring the possibility of helping your children or grandchildren with in finding a spot on the property ladder. Nowadays there are many products that we can run through to make this work.

Named on an Existing Mortgage and Want to Buy a New Home

Is your name currently on another mortgage and you’re looking to purchase a new property to live in? This is something that we come across quite often, especially when factoring in things like divorce or separation and can often help.

Whatever your situation is in wanting to obtain a second mortgage, your experienced Mortgage Broker in Sunderland will be able to search 1000’s of mortgage deals on your behalf and recommend the most suitable product for you based on your personal circumstances.

Date Last Edited: 13/01/2023