With the cost of living still biting and interest rates higher than many of us are used to, more homeowners are asking the same question:“How can I reduce my monthly outgoings without losing the great rate on my current mortgage?”For some people, a second charge mortgage – especially when used for debt consolidation – can be one way to do just that.In this blog, I’ll explain what a second charge is, how debt consolidation works, and share how I recently helped a homeowner in Castle Cary cut their monthly payments by around £1,000 a month.What is a Second Charge Mortgage?A second charge mortgage (sometimes called a “secured loan” or “second mortgage”) is a loan that’s secured against your property, just like your main (first charge) mortgage, in addition […]