Commercial / Residential Secured Loans

A commercial secured loan and residential secured loan is essentially a mortgage which is secured against your property by way of a 2nd legal charge.  You will generally require the consent of your mortgage company to obtain a secured loan; however this is only needed to ensure you can afford both the mortgage payments and secured loan payments.

A commercial secured loan and residential secured loan is generally taken when you have a fixed or promotional rate with your existing mortgage and would incur penalties if you were to remortgage or apply for further funding. Commercial secured loans and residential secured loans generally do not carry early repayment charges so you are able to borrow the funds you require until you are in a position to remortgage if you need to.

There are many benefits of taking a commercial secured loan or residential secured loan over a remortgage for example:-

• Currently in a fixed or promotional rate with early repayment charges – a secured loan
• Commercial secured loan and residential secured loans may not carry early repayment charges -
• Low set up fees on secured loans
• Borrow a secured loan for any purpose
• Can be arranged if you have been declined for an un-secured loan
• Borrow a secured loan from £5000 - £100,000
• Interest only available on some secured loans

For more information on our secured loan products please contact us or call 0800 612 3167