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The information below is meant just as a guide, to speak to one of our advisors call us now on 020 7519 4900 or fill out our online enquiry form and we will get back to you.
What are secured loans?
Secured loans offer an alternative to a remortgaging, allowing you to raise capital for almost any purpose and eliminating additional costs of solicitors, survey and admin fees etc.
Some points to note are listed below:
- The amount you can borrow usually ranges from £5,000 to £100,000.
- The repayment period varies, but is between 3 and 25 years.
- You can borrow up to 125% of the value of your property.
- Rates start at 6.7% (Typical APR 8.9%).
- Secured loans are secured against your property .
- If your property is already mortgaged then the secured loan is called a 'second charge' loan. If you own the property outright the loan is called a 'first charge' loan.
- You may be charged a fee if you repay the loan earlier than agreed, our broker will make you aware of any early repayment charges on your loan.