Frequently Asked Questions
Secured Loans
Why would I want to use a secured loan?
There are many reasons whey a secured loan can be a good tool to use to manage a debt problem. Probably the key reasons are
- Your existing lender will not lend you anymore money.
- The lending you want is outside your existing lenders criteria.
- You have a great rate of interest on your existing mortgage and you don?t want to upset this arrangement.
- The cost of the second charge is less than the cost of a remortgage.
- You would face redemption penalties if you were to change your existing mortgage.
Why would I want to use a secured loan?
How do rates of interest on secured loans and mortgages compare?