Secured Loans
If you need to raise some money but don't want to go through the hassle of re-mortgaging, or you may not have enough equity to re-mortgage then the answer is to get a secured loan. A secured loan is basically a second mortgage on your property although for a lot less than your main mortgage.
The advantage is that you are able to borrow money to clear off expensive loans or credit cards, or to consolidate some debts and thereby lower your monthly mortgage payments dramatically.
A secured loan is a lot simpler than getting a re-mortgage. For a start the form is simple to fill in and can be done in minutes, secondly there are no solicitors involved or product fees to pay which means that your capital outlay is minimal.
Thirdly you could have the money in weeks as apposed to months in the case of a re-mortgage. Also with a lot of secured loan providers offering free valuation, you really don't spend a penny on the application and can be in receipt of money in a short period of time.
The downside to secured loans is that the rate of interest you'll pay will be higher than on a normal mortgage by several percent. Where with a mortgage, a good interest rate may be around the 5% mark, with a secured loan, a good interest rate will be around the 7% mark to give you an idea.
However, if you have personal loans, credit card and store cards, car finance and other debts, chances are that you'll be paying double digit interest rates which means that getting a secured loan can cut your monthly payments dramatically.
You can use a secured loan for virtually any purpose such as home improvement, debt consolidation, car purchase and any other requirement.
To apply for a secured loan click the link below.
* This form is the property of Yes Loans & Mortgages Ltd. Any secured loan application arising from the completion of the form will be processed by Yes Loans & Mortgages Ltd. By going to this form we cannot be held responsible for any subsequent links to any other web pages you are taken to.