Secured Loans

//Secured Loans
Secured Loans 2015-02-17T19:26:49+00:00

A secured loan is like a second mortgage that sits behind your main mortgage on the property that you own, in many cases most home owners would remortgage their property to raise extra capital however if your main mortgage is on a low rate of interest or you are tied in to your current lender then a secured loan may be an option.

If you are considering a secured loan it pays to shop around, most providers add on arrangement fees which cover the loan set up costs, valuation and legal fees, the plus factor about secured loans is that if you wish to redeem them early then they is a maximum of one month’s interest to pay as a penalty.

Remember that as this is a secured loan and secured on your property then your home could be at risk if you were not to keep up the loan payments, to discuss your best options contact a member of our team today.

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