Loan Amounts

The amount of money you can borrow as a secured loan, and the time you have over which to pay it back, vary from broker to broker. They also depend, of course, on your personal circumstances. The following are typical figures which nonetheless show the flexibility which makes the secured loan so suitable for so many borrowers.

Many lenders will lend up 125% of the value of your property, the sum borrowed being made up of your existing mortgage plus the amount of your new loan.

In real terms this means that loans typically start at £5,000 and rise to a maximum of £500,000.

The times over which secured loans have to be repaid vary from as little as 3 years up to a typical maximum of 25 years. This compares very favourably with some other forms of borrowing, where repayment times can be very much shorter – and quite clearly, the less time you have, the higher repayment sums must be.

As with any other form of financial borrowing, you will have to pay interest on your secured loan. It is impossible here to tell you exactly what rate of interest you might have to pay, but you will find helpful information on our What Is A Secured Loan?  and Questions And Answers pages.

To obtain more information about what might be available to you on the basis of your unique personal history and circumstances,  Contact Us now, so that Divadani Loans can match you with a suitably experienced broker.