If you have sufficient equity in your home and your income is sufficient, a secured loan on top of your mortgage can sometimes be a more effective solution for raising finance. For instance;
If you want the money immediately - a secured loan can be processed far quicker than a mortgage.
If you have an excessive early redemption charge on your mortgage and are still within the tie-in period.
If a small amount of cash is required (usually in excess of 5000).
If you have adverse credit or mortgage arrears.
If you wish to keep the fees low - no solicitor is required so there are no legal fees.
It will always depend of your particular circumstances, which is why we recommend that you contact us first.
The overall cost for comparison is 10.62% APR. The actual rate will depend on your circumstances. APR is variable, and based on a usual case.
Ask for a personalised illustration.
The Financial Services Authority does not regulate some forms of buy to lets and secured loans.
The guidance and or/advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.
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 onn it.