Secured Loan FAQ

What is a secured loan?

A secured loan, or second charge, is a loan where the lender uses your client’s property as security, in addition to their primary mortgage.

How much can be borrowed?

We can arrange loans from £5,000 to £250,000 depending on your client's circumstances.

How long does a borrower have to repay the loan?

We can arrange loan terms from 5 years to 30 years depending on your client’s needs.

What can the loan be used for?

The loan can be used for any legal purpose from debt consolidation to a new car, a home improvements or even a holiday.

Can the loan be repaid before the end of the term?

Yes, clients are free to repay the settlement or redemption figure at any time. The amount of interest payable is dependant on the lender; in the case of early redemption our lenders will generally give a rebate under the terms of the Consumer Credit Act 1974.

Will my client’s details remain confidential?

Yes, we treat all applications with the strictest confidence. We do not pass on client details to any third parties or attempt to sell any other product to your clients.

How involved will I be, as a broker, in the process?

The broker can be as involved as they want to be! As a broker, you can treat the case as a referral and let us do all the work with the client. Alternatively, you can remain at the heart of the process, and we can instruct you on what we need from the client, and give you regular updates on the progress of the case.

 

Can you help my client with the paperwork?

Yes. If required, we can arrange to see the client in their home, their workplace, or in your office, in order to help them fill in the paperwork quickly and accurately. If an incorrectly completed form is returned to us, it can delay the process of paying out the loan, so sometimes this is a good option for a faster completion. However, if the client does not need assistance with the paperwork, they can return it to us in the Freepost envelope provided. 

There are a lot of secured loans companies out there. Why should I use you?

We are in a unique position in the marketplace in that we do not sell direct to the public. We operate solely on referrals from registered brokers and other authorized agents such as car dealerships. We do not cross sell insurance or any other products to your clients.

What do I do next?

Please complete our online application or call 08000 329 517 to speak to an advisor. Our impeccable services standards will ensure your application is dealt with speedily and efficiently.