Secured Loan Broker
Secured Loan Broker
If you are considering taking out a Secured Loan to Consolidate Debts &/or raise money for Home Improvements, we can help you with this.
As a secured loan broker that specialises in this area we have a large panel of lenders that are happy to provide secured loans to clients that have a good or bad credit history – so enquire now to discuss your options.
What is a secured loan?
A secured loan is finance which is secured against an asset such as a property. You will find secured loans allow you to borrow higher sums of money when compared to unsecured loans. As the loan is ‘secured’ if the borrower fails to repay the loan, the asset can be seized and sold off, allowing the lender to recoup their funds.
How does a secured loan work?
As with other loan types, a secured loan sees the borrower paying money each month, incorporating the money they owe and interest. If the borrower makes these payments on time and in full, their property is not at risk.
However, if the borrower defaults on the loan, the lender has the legal right to possess the property. If they wish, they can sell your property to claim the money you owe.
Defaulting on a loan is recorded on the borrowers' credit profile, lowering your score, and this will hamper their chances to borrow in the future.
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Bad Credit Mortgage FAQ's
Typical documents lenders require are:
- Proof of Identity – Such as a Passport &/or Driving License.
- Last 3 Months Bank Statements – This is to confirm your outgoings and affordability of any potential loan
- Proof of Income – If you are employed this would be your last 3 month’s payslips & P60 or if you are Self employed this will be your tax calculations & tax overviews &/or your accounts.
- Lender Socumentation – such as an application form & direct debit mandate.
The lender always has the right to request additional information to complete their due diligence.
Bad Credit Mortgages Basildon
Product Name: Mortgages
Product Description: Bad Credit Mortgages Basildon
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Joe
Gary has been brilliant throughout the whole process. Very knowledgeable, helpful and efficient. The service provided as a whole, has been excellent, 10/10.