Secured Loans

Why take a secured loan?

Secured loans can be a good solution, providing funds quite quickly if required.

  • Your mortgage may be a long-term tracker at a very low rate and a new mortgage would be more expensive. You can take a secured loan and keep the existing mortgage
  • Secured loan providers accept a higher level of adverse, so if you have had a few credit blips and can’t get a mortgage, you may be able to get a secured loan
  • Funds are usually available quick quickly and can be used for more purposes than a mortgage lender would allow (ie business investment or to pay a tax bill)
  • Secured loans income multipliers are sometimes higher, meaning that you may be able to borrow more than you could on a remortgage

Do you need funds quickly?

A secured loan can be actioned straight away and funds in your account more quickly than a traditional remortgage. If you need to get your loan sorted today, call one of the team at Harvey Bowes on 02921754150

Poor credit may not hold you back

The tolerance for poor credit history on secured loans is usually greater than that of a remortgage. If therefore you have had a few credit issues you may find it hard to get a mortgage, but easier to raise funds with a secured loan.

How does a Secured Loan work?

A secured loan, also known as a homeowner loan or second mortgage, is a loan that is secured on your home by way of a 2nd (or sometimes 3rd charge). Your mortgage is normally first charge, in other words, the main loan secured on your home and as such it gets ‘first priority’. The secured loan then sits behind this so to speak, as a second charge. This does mean that you are securing the loan against your property and therefore your home may be at risk if you do not keep up the repayments.

At Harvey Bowes, we can take care of your secured loan for you, from giving you initial advice and quotations, through to the application and completion. We can also help you with all of the paperwork.

Enquire about a secured loan now


Think carefully before secured other debts on your home

Your home may be repossessed if you do not keep up repayments


Typical APR 7.2%

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