• What Is A Secured Loan?
    A secured loan is a loan where you provide the lender with some security against the money they lend you. The security for secured loans is usually your home. It is normally a smaller loan than your mortgage and secured as a second charge behind it. A mortgage is also a secured loan.
  • Is It easy To Get A Secured Loan?
    Generally, secured loans are much easier to obtain than unsecured loans. This is because the lender has added security in terms of your home which provides protection in the event of failure to repay the debt. This security usually means those often struggling for an unsecured loan - the self-employed, those who have just changed work, anyone with bad credit ratings - can take out a secured loan. Although you will need some equity in your property.
  • Can I apply for a loan if I have an adverse credit history?
    Yes. Some lenders specialise in lending to customers with poor credit histories. Here’s what it means for you:
    • you may have to provide more detail in your application – the lender will want reassurance that you can pay the money back or you have assets to support the loan. They may ask for detailed information about your outgoing and incoming finances
    • you may be charged higher interest
    • your choices will be limited – not all lenders are willing to lend to people with poor credit history
    Just let us know if you have a poor credit history so we can find suitable loans for you.
  • Can I use the loan for any purpose?
    Yes, is the short answer, for anything you like although some lenders frown on the money being used to start a new business venture but other don't so it is best we know upfront.
  • What Is The Difference Between A Secured And An Unsecured Loan
    A secured loan means you borrow a sum of money and put up something of value as security - eg your home. An unsecured loan means there is no immediate danger of losing your home if you cannot keep up with the payments (although you could end up with a caution put on your home) but you could be taken to court instead. An unsecured loan will normally cost you more on account of higher interest rates and the fact you are not offering security.
  • How do I work out my property value?
    There are a few ways you can estimate the value of your property:
    • Research - Find out how much other, similar properties in your area have recently been sold for. If you don’t know, look in an estate agent window or your local paper to see the asking price for properties that sound similar to yours
    • Do the maths - How much did you pay for your property? If you bought it recently, you can look at figures for how the property market has grown or fallen, and work out how much the value of your property has gone up or down.
    • Get a professional opinion – Pay for a surveyor to value your property. You can also get an estate agent to value it, but they generally over estimate the value, to encourage you to sell and because the asking price is normally more than the buying price.
    The best and cheapest way is to find similar properties in your area that has sold.
  • How Important Is the APR?
    The APR (Annual Percentage Rate) is the generally accepted why to compare a loan against others in the market. However, you should not just go for the cheapest without looking at the quality of the lender and any extra charges as well. For instance, if you miss a payment will they charge you £20 to send you a reminder letter etc.
  • How do I apply?
    Simple fill out our online application form and we will handle it from there. It is free and there is no obligation.
  • How long does it take to apply for a Secured Loan and how long to get the cheque?
    It usually takes between 10 days and 4 weeks depending on the amount you borrow (whether it is under £25,000 or over) and how quickly you return the forms and any documentation asked for. If anyone tells you the average time for any secured loan is two weeks or under - run a mile because they either don't know what they are talking about or they are lying to you just to get you to apply.
  • What will happen after I apply?
    We will immediately assess your individual requirements, and match them with the best deal from our panel of lenders. We aim to secure approval in principle within 24 hours of your application. You will be kept informed of progress at all stages. Our professional underwriters will then guide you through the loan process; clearing all the obstacles and delivering the cash you need in the shortest possible time. There are no interviews and no salesmen will call. Remember the application process is free and you are under no obligation.