Secured personal loans
Secured personal loans and UK secured loans
Borrow £15,000 for only £117.12 per month* APR 8.4%
| Do you need a secured loan
to pay off credit cards, store cards or other loans?
Maybe some extra money for home improvements or a
car? Whatever you want your secured loan for and however much you want to borrow, we will help you make the right choices.
Call us FREE on 0800 316 5756 to discuss your new UK secured loan
|
Pay off all your debts
Capital Raising finance
Capital raising options can include remortgages, secured personal loans and
further advances.
Many people will raise capital on their home when they remortgage. This could be
for some home improvements, a new car or to consolidate debts. The advantage of
capital raising when the main mortgage is changed is that the whole mortgage
loan can then be set up on a special interest rate. This could be a fixed rate,
discount rate or bank base rate tracker for instance.
You then have the simplicity of one mortgage, one mortgage lender and one mortgage payment each month.
However, you may be unable to remortgage, perhaps due to high early repayment/redemption penalties for example. This poses a slightly different mortgage problem.
You could go ahead and remortgage the main mortgage loan plus borrow more money. You would have to pay the early repayment fees but this may be beneficial still if the mortgage rate is particularly attractive.
You could leave the main mortgage alone and ask your existing mortgage lender for a further advance mortgage loan. Nowadays these can be for almost any purpose and will run alongside the current mortgage loan. You may be able to set up the further advance mortgage on a special interest rate deal but this varies with each lender.
You could approach a secured personal loan company or second charge lender for the money. You would borrow your extra funds from another lender who would secure the debt on your property. Secured personal loan companies can offer slightly more flexible options than the main mortgage companies but their rates will reflect this fact. However, they can be useful if you need funds very quickly as secured personal loans can be set up in just a few weeks. Secured personal loans (second charge loans) will also provide an advantage if your credit history has changed since you set up the main mortgage. Your current credit position may mean that a major mortgage lender would not lend you any further money but you have an existing mortgage on a good interest rate already. Why not leave the existing main mortgage in place and take out a secured loan UK? Your main mortgage is unchanged so you will have 2 monthly payments to make each month.
In time, if your credit position allows or an opportunity arises to remortgage you could add the secure personal loan on to your main mortgage account.
Please contact us if you wish to discuss any of these options further including secured personal loans and second charge mortgages. You may use our online form to apply for a secured personal loan.
Important. Second charge mortgages and secured personal loans are not regulated
by the Financial Services Authority (FSA).
* Typical Rate 10.9% APR