 |
Home | Request A Quote |
 |
|
| |
|
 |
Why a Secured Loan?
WHY A SECURED LOAN? WHY NOT A REMORTGAGE?
Flexible in use and quickly available, a secured loan could be just the ticket for you, whether you’re hoping to realise a dream or just survive a crisis.
You’ll be astonished how quickly you can apply for a loan and how quickly your application can be approved. After approval, you could actually have your money within as little as 3 to 4 weeks – much sooner than with a mortgage.
Also, you can spend your money on just about anything that’s not illegal – see our page headed What Can You Use A Secured Loan For? That’s not the case with a mortgage, where you’re more limited when it comes to spending the money.
You’ll also be surprised to find how much you can borrow via a secured loan. Typically – and depending of course on your circumstances – amounts range from £3,000 to £500,000. You may be able to obtain as much as 125% of the value of your property (i.e. your existing mortgage plus your new secured loan).
But it’s not just how much you can borrow – it’s also how much you can save. You’d almost certainly have to pay broker’s fees on your secured loan as well as the interest – but it might be possible to add those fees to the loan, so you wouldn’t pay them upfront. And just consider the fees you wouldn’t pay.
- No fees to Divadani Loans
- No survey fees
- Depending on the lender, possibly no house valuation fees
- No conveyancing fees
In addition to fees, mortgages can attract penalties. If you pay off your main mortgage in order to remortgage and raise cash, you may find those penalties are severe. Taking a secured loan means your mortgage remains in place – so no penalties. It may also mean that you can keep the favourable fixed interest rate that you pay on your existing mortgage.
You should of course think very carefully before securing any loan against your home – failure to keep up repayments on a secured loan will be every bit as serious as failure to pay your mortgage. And just as with a mortgage you can expect to be charged if you pay off your loan early. But weigh up the advantages.
- You could have possibly 125% of your property’s value.
- The amount you borrow and the time you have for repayment (normally between 3 and 25 years) are arranged in a way that suits you.
- As you won’t pay off your existing mortgage, you’ll pay no penalties on your current borrowing.
- If you’re happy with your existing mortgage, you won’t have to give it up.
- You could have your money within weeks.
- There’ll be almost no restriction on how you spend the money.
Why wait? Contact Us now! |
| |
|
|
|
 |
|
We are licensed under the Consumer Credit Act 1974 to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling, credit reference agency and canvassing off trade premises. Our Consumer Credit Licence Number is 587232.
Enquiries generated via this website are passed on to Financial Advisers, Mortgage Brokers, Licensed Credit Brokers and Lenders.
Divadani Finance and Divadani Loans are trading styles of Divadani Limited.
Company registration number 5256587. VAT registration number 877 4798 45.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. |
|
