All 2nd charge lenders have reduced their LTV's as well as the High Street lenders, this is why they are reluctant to postpone the charge unless total borrowing is at a level where they are happy with the security. Even though your LTV is very close lenders are very unwilling to compromise. GE are not unlike all other lenders, they at the moment have a reasonable security on your property and will do everything they can to keep it that way. You may have some form of complaint if the original loan was based on a higher LTV criteria and you could argue that the level has been maintained? They may have no appropriate denial for the request if the current borrowing is maintained and this could be the basis of your argument as well as the reduced payments that you will achieve by re-mortgaging? Should they not allow the postponement based on these facts I would consider them to be in a position to receive a formal complaint, which in turn will start to cost them money. I know the fact that a 2nd charge feels as if it is separate from your mortgage but in the end it is still a loan secured on the property and is probably at a higher rate!!