Why choose Mercantile Trust?
With our common sense approach to lending, we offer flexible and quick solutions tailored to your needs.

What is a Second Charge Buy to Let Mortgage?
A second charge Buy to Let Mortgage is a type of secured loan taken out against a rental property that already has a primary (first charge) mortgage in place. It allows landlords to release equity from their investment property without refinancing the original mortgage. These loans are often used to fund property improvements, expand a rental portfolio, or cover unexpected expenses.
How does a Second Charge Buy to Let Mortgage work?
Unlike a First Charge Mortgage, where the lender has the primary legal claim on the property, a second charge mortgage is subordinate to the first. This means the original mortgage lender is repaid first if the property is sold or repossessed, followed by the second charge lender.
To qualify for a second charge Buy to Let mortgage, you must:
- Own a property with sufficient equity
- Have a current buy-to-let mortgage in place
- Be letting the property to tenants (not living in it yourself or your family)
- Meet the our affordability and credit criteria

Second Charge Buy to Let criteria
- Nationwide Coverage: Available for properties across England, Scotland, Wales, and Northern Ireland
- Borrowing on Buy to Let, HMO, Holiday let , MUFBs, and Student Lets for any legal purposes
- Competitive LTV: Borrow up to 75% loan-to-value (LTV)
- Loan Sizes: Borrow from £10,000- £300,000
- Mortgage terms: Available from 36-300 months
- Age eligibility: Applicants must be at least 18 years old
- Diverse Property Types: Most construction types accepted
- Landlord-Friendly Terms: No minimum income required for existing landlords
- Flexible Repayment: Interest only or capital repayment options
- Product options: Various fixed rate options available, including a 5 year fixed rate with no early repayment charges
Application process
1
Simply fill out the Enquiry Form to arrange a call back or call our expert team on 0800 032 3737
2
We will take time to understand what you want to achieve and ensure you qualify for a loan with us
3
If approved you could have the funds in 48 hours

Ready to get started?
We are here for anyone who needs flexible and tailored loan solutions. Whether you have complex income, have imperfect credit, are employed or self-employed, or need faster access to funds than a high street lender can offer — we’re here to help.
Let’s discuss how we can help your next investment. Speak to an expert.