Secured Loans

A secured loan is a loan secured on your property as a second charge, in addition to your mortgage (first charge). Secured loans are available from £5,000 to £100,000 and can be used for any legal purpose, but typically secured loans are used for debt consolidation, home improvements or to finance a family member's further education or deposit for their first home.

The term of a secured loan can vary from 5 to 30 years and some lenders have no maximum age so loans could run over a longer term than your mortgage to keep repayments lower. This is dependant on personal circumstances and whether you could afford the repayments into retirement.

With access to every secured loan lender, if anyone can place your secured loan
Teesside Independent Mortgages Ltd can.

Features

• Up to 80% Loan to Value available

• Up to 60% Loan to Value available on Buy to Let properties

• No upfront fees

• Secured loans can now only charge 1 month's interest if repaid early

• Rates from 8.8%

• All types of properties and constructions considered

The Financial Services Authority does not regulate some forms of secured loans. 

All loans are subject to credit and affordability assessment

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.