Secured Loans

Looking for an efficient and effective way for clients to take out additional borrowing? Then look no further

Why is it that Secured Loans can be so useful as a solution?

Secured loans are a great way for clients to take out additional borrowing when clients have one or more of the following: Early redemption charges with their current lender; fail affordability for a re-mortgage; have a first charge mortgage on a low interest rate, which they do not wish to sacrifice, or need a loan to value above the first charge lender’s limit; have unfortunately accrued an adverse credit history since taking out their current first charge mortgage.

Secured loan lenders also do not bound to use the standard income multipliers used in the first charge market, which means clients can access higher levels of funding based on their income. Some of the lenders we recommend, will consider a secured loan being affordable as long the clients have a surplus minimum income of £100 at the end of each month, after all costs, such as finance agreements and living costs, have been paid.

Our service involves a free consultation where either you or your customer provides us with a fully completed enquiry form. We will charge a broker fee of 4% subject to a maximum of £3,995. Should the enquiry complete, you will receive 50% of this fee after all transaction costs have been deducted, and 50% of the commission received from the lender. Please note that we do not offer a packaged service for this product option.

Scenarios and situations where usually we can help

– Up to 100% LTV
– Any legal purpose including HMRC debts
– Loan size can exceed the first charge
– Current DMPs acceptable
– Current IVAs accepted
– No minimum income
– No loan to income multiples
– HMOs accepted
– BTLs accepted
– Ex local authority accepted
– No minimum value
– Loans from £5,000 – £500,000
– No limit on mortgage arrears
– 6 months self-employed history
– No maximum age
– Up to 35-year term
– Quicker completions than a 1st charge
– No ERC loans available