A secured loan or second charge loan could allow you to release equity for that once in a lifetime purchase or holiday.
If like many of us you’re not able to clear your credit cards each month, let the equity in your home work for you.
Secured Loans also known as Second Charge Loans can be used to meet various needs including acting as an alternative to re-mortgaging, as a business loan, debt consolidation or to raise a deposit to purchase a buy to let or expand your existing buy to let portfolio.
Interest rates on secured loans tend to be substantially lower than unsecured credit. Again, it is the idea of offering your home as collateral that makes the difference. Lower interest rates make secured loans ideal vehicles for consolidating high interest debt into a single, more affordable payment.As you can see, secured loans have a lot to offer consumers. It is no wonder so many people are taking advantage of them in the modern era of consumer financing.
Some of the Secured loan benefits:
- All applications considered including self-employed and even with poor credit history
- Attractive low interest rates with no upfront arrangement fees to worry about
- Simple process and quick decisions
- Consolidate those high interest rate loan, credit and store cards and pay a lower interest rate
- Allows for lower outgoings with one monthly repayment for you to control
- Extend or improve your property which could add value to your home