F.A.Q for secured Homeowner Loans.
Q : How much can I borrow?
A: Depending on your personal circumstances you can borrow
any amount from £5,000 to £100,000 as a secured
Q: What can I use the loan for?
A: You can use your loan for any (legal) purpose e.g. a holiday,
car purchase or debt consolidation etc.
Q: How long can I take to repay the loan?
A:Generally depending on your circumstances you can select
any repayment term between 3 and 25 years for a secured loan.
Q: Can I insure my loan repayments?
A: Optional insurance schemes are available to cover your
monthly payments if you are unable to work due to accident, sickness or unemployment.
Q: What is a second charge?
A: Secured loans are secured against your property which
already has a mortgage on it - so, the mortgage is the first charge and the
loan is the second charge.
Q: Can I have a fixed rate loan?
A: Yes, you can. We have access to a number of lenders who
allows you to choose a fixed or variable rate.
Q: Do I have to pay any upfront fees?
A: We do not charge any upfront fees, however some lenders
do charge an arrangement fee which is typically included in the loan. These
fees can range from 2.5% to 10% of the loan amount.
Q: How long will it take to process my application?
A: Once you have submitted the application form, you will
be contacted by our lenders, who will discuss the best option for you, if
aggreeable You will have to complete and sign some loan documentation and
once you have returned it for processing your secured loan application should
complete within 7 to 10 working days.