Secured Loans

Mortgages & Loans Online can help UK residential homeowners to cut the cost of debt. Are you paying too much for expensive short term borrowings such as credit and store cards?

By replacing your expensive debts with a secured loan at a lower interest rate and spread over a longer repayment period, you can significantly reduce your monthly outgoings and improve your lifestyle. Mortgages & Loans Online can assist you to find the best secured loan; just complete our simple form for a qualified secured loans adviser to contact you - with no obligation.

A secured loan can be used to pay off and reduce the monthly cost of your existing debts (including credit cards). With a secured loan you can clear all your existing credit cards, loans and other debts and replace them all with one low cost cheaper monthly payment.

A secured loan can also be used to finance home improvements, buy a car, or to pay for a holiday. Secured loans can be used for many purposes and can be tailored to your specific needs. A secured loan is an amount advanced by the lender as a second mortgage against a UK residential property in addition to the main mortgage. Secured loans are separate borrowings from the main mortgage and can have a shorter repayment term. A secured loan can be structured to suit your requirements and can be paid off over an agreed period to suit your own finances. A secured loan can allow you to raise funds quickly without affecting your main mortgage.

Secured loans may not, however, be your best option. You may be better off by either increasing your mortgage or remortgaging with another mortgage lender, instead of taking out a secured loan. You should note that remortgaging may incur the payment of fees (valuation fees, solicitors fees, land registry fees, etc.) that usually do not all apply if you choose to raise finance with a secured loan.

However, a remortgage can often take many weeks or even months, whilst a secured loan application can be processed in a matter of days, and the funds can be in your bank within little more than two weeks or so. Lenders will generally only lend up to 90% of the value of your residential home, less the amount currently outstanding on your main mortgage. However, some secured loan lenders can permit you to borrow up to 125% of the value of your home, less the amount outstanding on the main mortgage.

Use our enquiry form to enquire with no obligation.