Secured Loans
Secured Loan or Remortgage?
Generally, if you're looking to rise a bit of extra cash for home improvements, debt consolidation, a fantasy holiday (or whatever else!) one of the ways to do so is by Remortgaging to release the equity that has built up in your home.
There are, however, instances in which a secured loan may be more advantageous or cost effective than a remortgage, even though the interest rate may be slightly higher. Some examples are:
- When a borrower has a very competitive rate on their current mortgage and extensive early repayment charges, which make Remortgaging unattractive.
- When a borrower wants to pay the loan off over a shorter period than their mortgage term (typically 25 years), thereby minimizing the amount of interest paid over the life of the loan, OR Secured Loans from Easy Lifestyle
- If you decide that a secured loan really is the better option for you, then Solus Mortgage Solutions Limited may be able to help get you the finance.
A few facts about secured loans:
Minimum age of 18, max age of 85!
Loans from £5000 to £100,000
Secured loan terms from 5 to 30 years
Loans secured on your home
It is important to remember that loan terms will vary depending on your personal circumstances, your credit history and your level of income.