second mortgage
noun [ C ]
FINANCE, PROPERTY ukus(also remortgage); (also US home equity loan)a loan that someone gets using their property as security (= an asset that the lender can take if the loan is not paid back), when they have already used this type of loan to buy the property:
The bank offers a 20-year, fixed-rate second mortgage option at an amount up to 4% of the appraised value of the home.