A charge is a legal order that secures a debt with a lender against your property. The type of charge is dependant on how many times the house has been secured against a debt. So most mortgages are 1st charge, and most loans are 2nd charge and even 3rd charge on occasions. 

A charge is ordered by who receives their money first if your property was ever remortgaged or sold.

For example, if the property has a 1st and 2nd charge, then if the property was ever sold or remortgaged, the 1st charge can claim all or part of the money borrowed before any other lender.


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