remortgage-advice-arbroath

Secured Loans

There may be times when a mortgage is not the most appropriate solution for you and in these circumstances we can look at alternative financing to achieve your goals.

A secured loan or second charge is finance borrowed in addition to a pre-existing mortgage. Secured loans are only available to homeowners and work in the same way as a mortgage with the loan secured against the value of the property. Although there are some similarities between secured loan and a mortgage, the two products are completely serperate. Also, a secured loan is a different product to a further advance on an existing mortgage that you may already have. Bespoke Money work closely with a whole of market secured loan broker to provide you with some of the most reliable lenders in the marketplace.

One of the main benefits of secured loans is that they are not linked to a borrowers existing mortgage. Due to keeping these seperate a secured loan can be taken over an alternative term than the main mortgage. Secured loans can be taken over terms from 5 - 25 years.

Similarily, if a borrower is currently on a beneficial rate with their main mortgage, they may not wish to expose their entire mortgage to a higher rate by remortgaging, particularily if their credit status has deteriorated. They may have been declined a further advance on their existing mortgage.

If you think a secured loan may be the right option for you or you simply wish some figures please click for a quote.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

The Financial Services Authority does not regulate Loans.