Secured Loans

Secured loans offer an alternative to re mortgaging, allowing you to raise capital for almost any purpose and eliminating additional costs such as early repayment charges payable if you moved your current mortgage deal, solicitors, survey and admin fees.

Some points to note are listed bellow:

The amount you can borrow usually ranges from £5,000 to £100,000 The repayment period varies, between 3 and 25 years Secured loans are secured against your property If your property is already mortgaged then the secured loan is called a ‘second charge’ loan. If you own the property outright the loan is called a ‘first charge’ loan. You may be charged a fee if you repay the loan earlier than agreed, full details will be provided in writing prior to your loan being drawn.

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 AGAINST IT.