Secured Loans FAQ
What is the difference between an unsecured and a secured loan?
A secured loan is secured on the equity of on your house i.e. the value of the house minus the mortgage debt on it.
Can I get a secured loan if I'm not a homeowner?
No
Can I still get a secured loan with a bad credit history?
As long as the value of your property is greater than your mortgage getting a secured loan is not a problem. Mortgage arrears, County Court Judgements (CCJs), payment defaults and other problems, such as no proof of income, are not an issue with a secured loan.
How do I apply for a secured loan?
You can either apply for a secured loan online using our simple form or call our friendly staff on 0870 40 22 44. We're here to help, so if you have any questions or concerns or you'd like more information about secured loans, just ask.
What will happen after I apply for a secured loan?
First, our team of professional underwriters will assess your individual requirements and circumstances and look for the best secured loan from the entire market. You should get you a decision in principle within 24 hours of your application. All the paperwork can usually be completed through the post and by phone. The process is very fast and straightforward.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
