When raising finance using the security of an already mortgaged property, there are the options of remortgage or second charge. The latter option avoids disturbing the existing mortgage and there are a number of occasions when it may be more suitable to raise finance by raising a further loan than to arrange a remortgage. Amongst other things, the purpose, the term for which the money is required, and any redemption penalty on the existing mortgage need to be considered. Mortgage Market (Yorkshire) Ltd. is able to assist you in assessing your options and making the choice most suitable to you.