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Priority of charges

A charge, in this case, refers to a mortgage that's secured on a property. When there’s more than one mortgage or loan, the ‘priority’ indicates which one will be paid off first.

It would be normal for your main mortgage to be secured by a 'first charge'.  Should you have a home-improvement loan or a second mortgage from another lender, then this would typically be secured by a 'second charge'.


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