Secured Personal Loans UK Enquiry
Let an expert assist you to find the best secured personal loans in the UK. Complete one of our simple forms for a suitably qualified secured personal loans UK expert to contact you.
Secured personal loans are loans secured against UK residential properties in addition to a mortgage. They are often called "second charges" or "second mortgages" since the lender of a secured personal loan stands in second place behind the normal mortgage lender in the case of payment default. Secured personal loans are separate to the mortgage, so they can be structured to suit your needs and can be paid off at a rate to suit your own pocket. Secured personal loans can raise funds quickly without affecting your main mortgage in any way.
Secured personal loans can be used for many purposes including: paying off and reducing the cost of more expensive existing debts (including credit cards), home improvements, special purchases (e.g. cars/holidays), and funding for financial obligations (e.g. school fees etc.).
Note that you could be better increasing your mortgage or re-mortgaging with another mortgage lender rather than taking out a secured personal loan. You should be aware however, 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 funds through a secured personal loan.
Typically, lenders will only allow you to borrow up to a total of 90% of the value of your home, less of course the amount currently outstanding on your mortgage. However, some lenders of secured personal loans in the UK will allow you to borrow up to 125% of the value of your home, less the current mortgage.
Complete our Secured Personal Loans UK Enquiry form to contact a secured personal loans UK expert and to learn more about how secured personal loans can benefit you.
Click Here if you wish to learn how secured personal loans may save you money by paying off and consolidating your existing UK debts.
If you wish to consider re-mortgaging or increasing your existing mortgage as an alternative to a secured personal loan, complete our UK Re-mortgage form.
