Secured Loans
If you have sufficient equity in your home and your income is sufficient, a secured loan on top of your mortgage can sometimes be a more effective solution for raising finance. This is commonly known as a second charge.
For instance:
- If you want the money immediately - a secured loan can normally be processed far more quickly than a mortgage.
- If you have an excessive early repayment charge on your mortgage and are still within the tie-in period.
- If a small amount of cash is required (usually in excess of £5000).
- If you have adverse credit or mortgage arrears.
- If you wish to keep the fees low – no solicitor is required so there are no legal fees.
Obtaining a secured loan will depend on your particular personal and financial circumstances.
Secured Loans are not regulated by the Financial Services Authority.
Please call Telephone 0800 043 042 7
IMPORTANT NOTE
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
