Secured Loans UK Enquiry
Let a secured loans UK expert assist you to find the best secured loans in the UK. Complete our simple form for a suitably qualified secured loans UK expert to contact you.
Secured loans can be used to pay off and reduce the cost of your existing debts (including credit cards). Secured loan can be used to make those home improvements you have been dreaming of, or to buy that holiday you have been promising yourself. Secured loans in the UK can be used for many purposes and can be tailored to your requirements.
Secured loans are secured against UK residential property in addition to a mortgage. They are often referred to as "second charges" or "second mortgages" since the lender advances secured loans against the UK property but stands in second place behind the first mortgage lender in the case of any payment default. Secured loans are separate to the mortgage, so they do not have to follow the same repayment or interest payment schedule as your mortgage. Secured loans in the UK can be structured to suit your needs and can be paid off at a rate to suit your own pocket. Secured loans can raise funds quickly without affecting your main mortgage in any way.
Secured loans may not, however, be your best alternative. You may be better off increasing your mortgage or re-mortgaging with another mortgage lender rather than taking out a secured loan. You should remember that re-mortgaging, in particular, may involve fees (e.g. solicitors fees, land registry fees, exit penalties etc.) that may not be payable if you raise the same finds through a secured loan.
Lenders will generally only lend up to 90% of the value of your home, less the amount currently outstanding on your mortgage. However, some lenders of secured loans in the UK will allow you to borrow as much as 125% of the value of your home, less the current mortgage.
If you wish to learn more about how secured loans may benefit you. Complete our Secured Loans UK Enquiry form and a secured loans expert will contact you at your convenience to give you guidance.
If you have expensive and worrying unsecured debts, why not learn how secured loans may save you money
As an alternative to a secured loan consider re-mortgaging or increasing your existing mortgage. To do this with expert assistance, complete our UK Re-mortgage form.
