Why secured loans?
Very often a mortgage broker will only consult a secured loan broker when they are unable to place a re-mortgage on behalf of their client. However, it is worth considering a secured loan first in many other circumstances:
What type of client does a secured loan suit?
Our clients are mostly those who have been refused finance from a high street bank due to their stringent criteria. But also for:
- Clients wishing to borrow up to £100,000
- Clients needing to consolidate their outstanding loans and credit cards
- Those wishing to carry out large home improvement projects
- Those looking to inject cash into their business or pay a tax bill
- Those that have had adverse credit and wish to speak to a company who understands their situation
- They are self-employed and need to borrow more than £25,000
How to identify a secured loan…
As a general rule of thumb, introducers send their enquiries to us because their client:
- Is in a tie-in period and does not want to pay a large penalty
- Is about to come to the end of their mortgage deal and needs to consolidate other borrowings
- Cannot prove their income with either payslips nor accounts
- Has been turned down for a further advance
- Needs funds very quickly and can't wait to remortgage
- Wants to avoid losing an excellent current deal with their existing mortgage lender
- Needs to borrow up to 85% of their property value