A secured loan can be an effective way of raising finance without affecting your existing mortgage. A key reason for choosing this type of loan is that it is secured against your property so the lender assesses this as being of lower risk than others available in the market.
Secured loans can be used to release equity for almost any legal purpose, are quicker to complete than a full residential mortgage and they have more generous income criteria in the calculation of affordability.
You don’t need a perfect credit rating
Rates can be relatively low
Long repayment periods
Even if you have an existing mortgage you can still apply.
Secured loans typically come with a lower interest rate than other types of personal credit, because the lender is taking on less financial risk.
As the loan is secured against your property, lenders will often consider significantly larger loan amounts.
Your application will be dealt with by real people, ready to answer any questions you may have.
Your home may be repossessed if you do not keep up repayments on a mortgage. There may be a fee for mortgage advice. The precise amount will depend on your circumstances, but we estimate that it will be £395 and we may also receive a commission. Omega Wealth and Finance is a Credit Broker and not a lender and any fees are charged solely for Credit Broking Services. We work with lenders who may pay us a commission. This amount may vary depending on the product or lender.
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