Secured Loans – an attractive option for homeowners
Your home may be repossessed if you do not keep up repayments on your mortgage. Or any other secured loan on it.
Mortgage Direct Limited are credit brokers, not lenders.
If you’re looking for to raise cash for home improvements, a new car, a family wedding or to consolidate your debts, then you may be able to take out what’s called a ‘homeowner loan’, where the amount you borrow is secured against the value of your property. Although most people take out these loans for the reasons shown above, any reasonable purpose will be considered.
So, if you’re a homeowner looking to borrow between £5,000 and £500,000 for between 3 and 25 years, then this type of borrowing might work for you. Clients who find this way of raising cash attractive include those who need more than they might be able to borrow on an unsecured basis, the self-employed who often find it hard to prove their income, those with poor credit histories, or those looking to consolidate their other borrowings into a secured loan.
Where we fit in
We’re happy to talk through your requirements and help you consider the most suitable option for your circumstances. We’ll be able to help you with any questions and explain the fees and charges involved in taking out this form of finance, including property valuations, mortgage references and credit searches. We’ll talk to you about taking out insurance too, so you’d have the peace of mind of knowing that your loan payments are covered if the unexpected were to happen.
How to apply
Applying for a loan is simple and straightforward – just click the Apply Now button below and you’ll be taken directly to the application page. Once we have all your details on the form, we’ll ask your permission to carry out a credit check. Each application is looked at individually and you’ll be pleased to know that this type of loan doesn’t depend on you having a good credit rating, as your property will be used as security for the loan.
TYPICAL 10.7% APR VARIABLE.
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 ON IT. Loans available to UK residents only
Loans subject to status and secured on residential property by way of second charge. Consolidating debts may increase the term and total amount payable. A fee of up to 12.5% may apply. Minimum age 18 years. Rates and fees correct as of 01.08.15