Secured Loans
What is a secured loan?
A secured loan, also known as a Homeowner Loan, is a loan that is secured against your property. This means that you're able to borrow larger sums of money usually at lower rates. A Homeowner Loan allows you to borrow £20k+ to purchase anything from a car to home improvements.
How you can use a secured loan
A secured loan can be used for whatever you like. The only difference between a secured and an unsecured loan is that a secured loan is secured against your property. This usually means that you can borrow more at a lower rate. A secured loan is ideal for larger-scale projects such as home improvements, renovations, debt consolidation, and more.
Examples of ways you can use a secured loan:
- Debt consolidation
- Home improvements
- Buying additional properties
- Purchasing a freehold property
- Early release from a mortgage
Consolidating debt
If you've got lots of different debts and you're struggling to keep up with repayments you can merge them together into one loan to lower your monthly payments. Because a secured loan is secured against your property lenders are able to be more lenient when it comes to poor credit scores. If you're thinking of using a homeowner loan to consolidate debt our advisers can help you every step of the way.
How we can help?
I can offer expert advice and have access to a comprehensive panel of leading 2nd charge lenders to find the most appropriate solution for you.