Secured Loans

What is a secured loan?

Secured loans are loans whereby the lender applies a charge on your properties deed similar to that of a mortgage. In fact a mortgage is also known as a first charge on a property, and a secured loan is known as a second charge on the property. This makes secured loans more of a risk to the applicant than with an unsecured loan however you will benefit from much lower rates than those offered by unsecured lending.

With a secured loan you can borrow anything from £5,000 upwards depending on the amount of equity remaining in your property. With loan terms ranging from 5 to 30 years.

Why should you choose a secured loan over a remorgage or further advance from your current mortgage lender? You may be tied to a fixed or discount rate having an early repayment charge to redeem your current mortgage. Your mortgage rate maybe significantly low and you would prefer not to effect this. You may be required to pay upfront fees to switch to a new mortgage. The time to remortgage may take months to complete. Your lender may not offer a further advance service or they may have tight affordability rules for further borrowing, they may not allow you to borrow money for certain circumstances such as starting a business. With a secured loan these restrictions are removed and lending is much more flexible.

We provide an express service whereby we will match you against our whole of market panel of secured loan lenders offering the most competative rates. We will keep you informed throughout the application process.

We can accept loan applications for:

• Homeowners only.
• Employed and self employed.
• Loans from £5000 upwards.
• Past credit problems, CCJ's, defaults and arrears

Why not complete our form now to get started