As a result of the credit crunch, loans are generally more difficult to obtain but by offering your property as security, secured loans can be easier to obtain than others. A secured loan often allows you to borrow larger amounts than would otherwise be available, say via a personal loan from your bank, and to repay the loan over a longer period, up to say 20 years. As there is less risk for the lender the interest rates are usually lower than the APR on an unsecured loan.
Secured loans can be used to release equity for almost any legal purpose, are quicker to complete than a full residential mortgage and they have more generous income criteria in the calculation of affordability.
Because of the secured element of this product they can be made available to people who have not got a perfect credit record. Even if you don't own your home outright you may still apply for a secured loan.
Call us on 01482 638300, or e-mail firstname.lastname@example.org, to discuss your needs.
Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £350.
ICF Financial Services Ltd is a Credit Broker and not a lender and any fees are charged solely for Credit Broking Services, not lending services.
ICF acts as an introducer in the secured loan market, we use specialist brokers to ensure our clients have access to the widest possible market.
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