Precise Mortgages has launched second charge bridging loans, allowing property owners to access short-term finance without disturbing existing mortgage arrangements or triggering early repayment charges.
The specialist lender says the new product is designed for homeowners – including landlords – who want to release capital while keeping their existing first charge mortgage intact, particularly those locked into attractive fixed rates they do not want to lose.
When second charge bridging works
Precise says the product may be suitable for scenarios including:
- Refurbishment funding: Raising capital to fund improvements on a mortgaged property
- Chain breaks: Purchasing a new property before completing the sale of an existing one
- Planning applications: Covering costs associated with obtaining planning permission prior to sale
The product sits alongside Precise’s existing bridging range and carries the same underwriting approach, with the lender emphasising speed and consistency for broker-introduced cases.
Avoiding early repayment charges
Alan Kimber, Head of Bridging at Precise, said the product addresses a common frustration for property owners with competitive existing mortgages: “These new options allow homeowners to unlock capital without disturbing their existing mortgage, helping them avoid early repayment charges and retain preferential rates.”
This follows Landlord Knowledge’s report on mortgage product shelf-life hitting a two-year low, with landlords increasingly needing to act quickly on refinancing decisions. For those with existing fixed rates they want to protect, second charge options provide an alternative route to capital.
What this means for landlords
- If you’re locked into a competitive fixed rate: Second charge bridging may allow you to access capital for refurbishment or acquisition without triggering ERCs on your existing mortgage.
- Watch for: Total borrowing costs – second charges typically carry higher rates than first charges, so model the full cost against a remortgage with ERC.
- Bottom line: Another tool in the financing toolkit, but not a default choice. Run the numbers for your specific situation.
Editor’s view
Second charge bridging fills a genuine gap for landlords who locked in sub-5% rates and now need capital. But the maths need to work – bridging rates plus second charge pricing can add up quickly. This is a product for specific situations, not a routine funding route.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 17 March 2026
Sources: Precise Mortgages
Related reading: Mortgage shelf-life hits two-year low as landlords urged to lock in rates
