A Second Mortgage is a Secondary Mortgage charge registered behind your existing first Mortgage. This provides you with the option of extracting equity from your property which would otherwise not be accessible from traditional lending institutions. Here are a couple reason why a 2nd Mortgage might be an option for you.
Debt Consolidation:A second Mortgage could be a good debt consolidation option to consider if you are currently struggling with high interest debt payments or simply want to consolidate multiple debts into one lower interest payment.
Equity Take Out:A Second Mortgage is an option for you to consider if you are looking for working capital to complete projects like your dream kitchen, bathroom renovations, fix that leaky roof or simply complete general home improvements.