FT Adviser – Nature of the Second Charge Mortgage Market

As the term implies, ‘second charge’ mortgages are always secured behind first charge mortgages. As the term implies, ‘second charge’ mortgages are always secured behind first charge mortgages; the first charge mortgagee retains priority. The majority of second charge mortgage providers in the market today are either banks, subsidiaries of building societies, or subsidiary entities …

FT Adviser – Guide to Second Charge Mortgages

Last month the Financial Conduct Authority confirmed regulation of second charge mortgages should move from the watchdog’s consumer credit regime into the mortgage regime. This guide will explore the current make-up of this type of loan, which is secured against a property behind the existing loan – the first charge. This means that in the event …