A secured loan is a personal loan that is obtained by using a home as collateral. The lender, usually a bank or building society, places a second charge on the property deed, allowing them to take the home as their security.
Secured loans can be used for any legal purpose.
We can help with all types of secured loans including arrears, bad credit, high income multiples and start up self-employed.
Secured Loans are available on BTL properties too with no proof of income in most cases.
Common Secured loan purposes include:
- Home improvements
- Debt consolidation
- Deposit to buy another property
- Short term lending to buy a new home before selling existing home.
- Tax bills
- Clear debt management plans or IVA’s
- Holidays and weddings
- To fund property purchase for a family member