Our standard secured loan

An open approach to lending.

Same day enquiry

We’re here between 9am and 8pm Monday to Thursday and 9am to 7pm on Friday. If you contact us by 2pm we guarantee to get back to you the same day. If it’s after 2pm, we can’t promise we’ll be able to reply on the same day, but we’ll do our very best.

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I am a homeowner
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Your home may be repossessed if you do not keep up repayments on your loan.

Sometimes known as a second charge loan our secured loan helps you to unlock the value in your home. Perhaps to complete home improvements, renovations, or to manage debts?

We think looking at your individual situation, combined with our common-sense approach to lending, makes better sense for everyone.

Our standard secured loan for non-standard situations

If you need to raise funds, for example, to make home improvements or get on top of your debts, and you have existing equity in your home, a secured loan could be the right option. Our approach to lending considers your individual circumstances, not just your credit profile. So even if you’ve had previous problems, you could still get a loan with us.

 
We’ll consider secured loans for:
  • ex-council houses, flats and maisonettes
  • high-rise properties (yes, even ones above 6 floors)
  • properties with poor valuations (when the property is in a less than perfect condition)
  • non-standard constructions (When the property you want is a little out of the ordinary)
  • normal brick-built houses, flats and maisonettes
  • properties where more than 40% will be owner occupied
 
Key features
  • Loans from £3,000 to £1,000,000
  • We accept CCJs and Defaults up to 70% LTV (loan to value)
  • Variable rates from 6.65%
  • 5-year fixed rates from 7.4%
  • Interest-only repayment options available

 

With added value

To help make things more affordable and easier to plan, we offer a 5-year fixed-rate product. Also, we don't hit you with early repayment charges if you want to pay off your loan early. And that’s even on fixed-rate loans.

 

Overall cost for comparison

For example: A loan of £65,000 payable over 25 years on our variable rate for the loan term of 25 years at our current rate of 7.65% (variable) would require 300 monthly payments of £523.21 plus a redemption administration fee of £150.00.

The total amount payable would be £157,112.08 made up of the loan amount plus interest on the loan (£81,011.23), processing fee (£3,250.00) and arrangement fee (£1,625.00) plus interest on these fees (£6,075.84) and the redemption administration fee (£150.00).

The overall cost for comparison is 8.8% APRC representative. 

The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.

 

6 steps to getting a secured loan 

When you apply for a secured loan with us, one of our qualified advisers will guide you through each step of the process:

  1. We’ll make sure we understand your circumstances fully before recommending a suitable loan. If you’re happy, you’ll receive a ‘mortgage illustration’ providing all the relevant details about the product you’re applying for.
  2. Our advisers will take you through the full application process. We’ll tell you exactly what you need to do, and when, including sending us supporting documentation. For example, proof of income in the form of wage slips or your accounts.
  3. When we have everything we need, we’ll assess your application and supporting information.
  4. If we’re happy with everything, we’ll make you a loan offer, which means we’ve accepted your loan application.
  5. Our advisers will tell you what’s happening at each stage and, importantly, you’ll have their contact details if you want to get in touch.
  6. We’ll release the funds to you.

 

Our general lending criteria
  • Maximum LTV (loan to value) – 77.5%
  • Maximum loan – £1,000,000
  • Variable rate terms – 3 to 30 years
  • Fixed rate terms – 5 years then variable rates
  • Maximum age – 80 years at end of term
  • Credit profile – CCJs and Defaults accepted (even in the last 12 months)
  • Income types – employed, self-employed, temporary/zero-hour contracts, DWP benefits, pension
  • We accept loans against non-standard property types 

 

Your home may be repossessed if you do not keep up repayments on your loan.


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