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The UK’s second charge bridging loan experts...

We specialise in providing fast, easy access to bridging finance for UK landlords.

We know that running a property business can be unpredictable. Whether you own just a single buy to let property, or have a large property portfolio, unexpected costs always arise. You may be expanding your business by buying another property at auction; if so you might need to choose to take out a second charge bridging loan to pay for a property while you arrange a longer term finance solution.

You may wish to purchase a new property and need some short term finance whilst you wait for another property to sell, or fund some property development; if so, a second charge loan could help. Whatever you may need to raise additional finance for, we may be able to be of assistance to you.

The loan amount can be tailored to suit your needs, and the term of the loan can range from 3 months up to a year. Mercantile Trust also accepts HMO properties being used as security for your second charge loan.

What is a second charge bridging loan?

A second charge bridging loan is a loan that sits behind an existing mortgage. If you have enough equity left in the property to secure additional borrowing against it, you may be able to take out a second charge.

A second charge loan indicates that a higher priority, first charge loan is already secured against the asset / property (typically a mortgage), which should be repaid before the second charge loan, should the asset ever be repossessed.

How much could I borrow using a second charge bridging loan?

The amount you can borrow relies on the available equity that’s in your property. Equity is the portion of your home that you own outright free from any mortgage.

Mercantile Trust allows you to borrow from as little as £25,000 to £250,000 and repay over a period of 3 to 12 months, entirely dependent on your personal needs.

I have poor credit history, could I still be accepted?

Having a poor credit profile doesn’t mean that you won’t be accepted for a second charge loan. Although some lenders may not be able to assist you, we could be able to help. We consider all credit histories including those that have:

  • • Accounts in defaults
  • • CCJ’s (County Court Judgement)
  • • Missed payments
  • • Historic IVA (individual voluntary arrangement) which is now settled
Accepted for a second charge bridging loan

How do I apply for a second charge bridging loan?

Applications for second charge bridging loans are easy to complete. The straightforward process begins with you either filling out our online application form or ringing one of our team of experienced advisors using the number at the top of this page.