Taking out a second mortgage
Do you need additional financial space for a renovation, a major investment, or paying off an existing debt? Taking out a second mortgage can often be a smart choice. At Westvaer, we are happy to guide you through this process, from drafting the new mortgage deed to handling the legal formalities. With our expertise and personal approach, you are assured of a smooth and worry-free experience.

What is a second mortgage?
A second mortgage is an additional loan on your existing mortgage, using your property as collateral. This can be appealing if you have equity in your home. The amount borrowed can be used for various purposes, such as:
- renovation or sustainability improvements: for instance, installing a new kitchen, building an extension or adding solar panels;
- paying off expensive loans: a second mortgage often offers a lower interest rate than personal loans;
- investments: for example, purchasing a second property or making other significant purchases.
With a second mortgage, your first mortgage remains unchanged. However, a new mortgage deed must be created, which outlines the terms and conditions of the second loan.
The process of obtaining a second mortgage
Securing a second mortgage involves three steps:
1. Preparation and advice
Together, we will discuss your goals and financial situation. What is the purpose of the second mortgage? And how can it be best structured? We provide clear advice and guide you through all legal and tax aspects.
2. Drafting the mortgage deed
A second mortgage requires a new mortgage deed. This document specifies the loan terms, such as the loan amount, duration and interest rate. We carefully prepare the deed and ensure it is registered with the Land Registry. Additionally, if required, we arrange consent from the first mortgage holder, which is often necessary.
3. Finalization and registration
After signing the mortgage deed, it is officially registered. From that moment, the second mortgage takes effect and you can utilize the additional financial resources.
Frequently asked questions about second mortgages
Here, we answer some common questions:
Can I take out a second mortgage without equity in my property?
In most cases, equity is required for a second mortgage, as it provides the assurance that the loan can be repaid.
What is the difference between a second mortgage and increasing an existing mortgage?
With a second mortgage, your first mortgage remains unchanged and a separate loan is taken out. This can be beneficial if the terms of your first mortgage are favourable. Increasing an existing mortgage involves adjusting the terms of your current mortgage.
How much can I borrow with a second mortgage?
The amount you can borrow depends on several factors, including the value of your property, the equity, your income and the terms of your lender.
Do you have additional questions? Our experts are here to assist you.

Why involve a notary for a second mortgage?
Engaging a notary is mandatory when arranging a second mortgage. However, our role extends beyond drafting the deed: we are here to relieve your concerns and provide guidance. At Westvaer, you benefit from:
- years of experience: we have extensive expertise in handling complex mortgage processes;
- expertise: our specialists stay up to date with the latest laws and regulations;
- personal approach: your situation is our priority. We offer tailored solutions that fit your needs.
The new mortgage deed: your legal foundation
Drafting a new mortgage deed is a mandatory part of obtaining a second mortgage. This document outlines all agreements, including:
- the loan amount and interest rate;
- the term and repayment conditions;
- any additional agreements, such as required insurance policies.
At Westvaer, we ensure that the deed is legally accurate, complete, and tailored to your situation. We take the time to explain everything clearly, so you can sign with confidence.
Why choose Westvaer?
Taking out a second mortgage is more than just a financial decision; it is a legal process that demands precision and care. As a notary office, we are your trusted partner for:
- independent advice: we consider not only the legal aspects but also other implications and potential risks;
- legal assurance: our deeds meet all legal requirements and are customized to your personal situation;
- efficiency and transparency: we guide you through the process with clear explanations and strict deadlines, so you know exactly what to expect.