LOANS

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John Smith
London, England

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HOMEOWNER SECURED LOANS

In today's world of overspending and high pressurised living, it is very common for homeowners to have debts other than their mortgage such as personal loans, credit cards, store cards, overdrafts, car loans, school fees etc. If you have some or all of the above then chances are you are paying more than you need to in interest charges. The monthly minimum repayments of these on top of your mortgage can be financially crippling.
A Secured Loan is one that is secured against your home, therefore to qualify you must be a homeowner and have a mortgage. You should allow an average of 21 days for a loan to complete but in certain situations it can be as short as 10 days. You will find that secured loans are available over a longer term than unsecured loans, which can help to keep the monthly repayments down because the overall debt can be stretched over a lengthy period. In addition to this, you will notice that your borrowing power is likely to be far higher with a secured loan than one which is unsecured. Lenders will base the amount that you can borrow on the available equity in your home, which is the market value of your property minus any mortgage or other loans already secured upon it.
Most common reasons for taking a secured loan are: -

MORTGAGES

Why use a Mortgage Broker?

Getting a mortgage is one of the most important financial decisions you will take in your lifetime. For most people a mortgage is s huge commitment and the single biggest regular expense which consumes a large portion of their monthly salary.  Failing to get the right deal could prove to be very costly in the long run.  Consequently you need to be aware of all the options and be sure you are not missing out on products which could save you a fortune in interest payments.

There are many mortgage products to choose from and not all will suit your personal circumstances. That’s why you need advice from a qualified mortgage broker who has access to a wide range of mortgage deals including some mortgage products which are not generally available to the public directly.

Our independent brokers are regulated by the FSA and provide unbiased advice directing you to the most suitable products from the whole of the market. They will carry out the research by comparing mortgage products from the whole market to find the best rates for you.  They will also save you time and energy by liaising with the lender on your behalf and assisting you with the necessary paperwork.

What will happen to my details?

Your details will be passed on to one of our affiliated qualified mortgage brokers who will call you in order to discuss the best options available for you that best suits your requirements.

We have partnered with some of the leading mortgage brokers in the UK. They are experts at finding exactly the right mortgage to suit your particular requirements.  By choosing the right mortgage first time round you can be assured that you will save thousands of pounds over the length of your mortgage.

BRIDGING LOANS

Bridging Finance or Bridging Loans are short term, high value loans that are secured against either a commercial or residential property. They are often referred to as “short term funding”.  Typically the term of a bridging loan is less than one year.

The most common use of bridging finance is to complete quickly on a property purchase without having to sell your own property. Often this type of funding is used in an emergency situation where a buyer pulls out at the last minute leaving you the option to postpone or cancel your property purchase.  It’s also common for homeowners in a slow market to use bridging finance to become a “cash buyer” and therefore get a better deal on the property purchase.

The biggest advantage of bridging finance over other types of loan financing is the speed in which funds can be made available – around 1 week.

The speed at which bridging finance can be arranged also makes it attractive for investors – for instance buying at auction or when a property can be bought refurbished and sold within a short period of time.

Bridging finance is a significant area of lending that is often overlooked by consumers but which can provide an invaluable source of funds in particular circumstances where mortgages will not do the job.  A bridge can also be used for a variety of other purposes where a mortgage may be difficult or even impossible to obtain including property auctions, refurbishments, developments or buy-to-lets.

UNSECURED PERSONAL LOANS

Unsecured loans can be taken without the need for the borrower to provide any security against the loan amount.  These loans are specifically meant for tenants but can also be used by borrowers who have security but are not willing to use their home as collateral.  Interest rates on unsecured loans are normally higher than secured loans.  In the absence of collateral lenders charge higher interest rates as a way of keeping a margin against a potential repayment default from the borrower. It can be difficult to source an unsecured loan if the borrower lacks a good credit history however we will endeavour to find the loan to suit your specific requirements.
Applicants must be in full time employment and not be self-employed.

Benefits of Unsecured Loans:

The funds from an unsecured loan can be used for diverse purposes for instance purchasing a car, consolidating debts, financing education, funding a holiday etc. So if you are looking for an unsecured loan call Quick-e-loans to find out more.

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