Frequently Asked Questions
Secured Loans
What is a secured loan?
A secure loan is often known as a second charge. It is in effect another mortgage on your property. It is called a second charge as the lender who provides the borrowing is entitled to the proceeds of your property after the first charge holder (primary mortgage provider) has been paid in full. This only occurs of course if the property is sold.
Why would I want to use a secured loan?
How do rates of interest on secured loans and mortgages compare?