Glossary Index

Mortgage terminology can be tricky to understand. Our mortgage glossary explains key terms and acronym’s that Pepper Money and other lenders use.

Second Charge Mortgage

This loan is taken out or secured against your current property without impacting your first-charge mortgage. The value of your property and how much equity you have will determine how much you can borrow. If you take out a second charge mortgage, you will have to pay back both your first charge and your second charge as per the terms of the loan.